Banxa Records 337% YOY Increase for December $$$$$$$$$$$$$$
Banxa Records 337% YOY Increase for December Transaction Volume
2022-01-19 05:30 ET - News Release
Highlights:
- December 2021 Total Transaction Volume (TTV) of AUD $185m (USD $133m)
- December 2021 quarter TTV of $594m (USD $429m) which is more than double the prior quarter
- Year on Year increase of 337% for month of December 2021
- Signed 14 new partners in December, including Ledger, Bitget, zkSync and gmx.io
- Added support for 18 coins and chains, now supporting a total of 80
TORONTO, ON and MELBOURNE, AUSTRALIA / ACCESSWIRE / January 19, 2022 / BANXA Holdings Inc. (TSX-V:BNXA) (OTCQX:BNXAF) (FSE:AC00) ("Banxa" or "The Company"), the world's first listed payment service provider (PSP) and RegTech platform for the digital assets industry, is excited to announce a 337% increase on Year on Year growth for December 2021, with a TTV of USD $131 million.
In December, the Banxa team processed over 7000 transactions daily to reach this record volume. Banxa also continues to expand its partner ecosystem with 14 new partnerships signed in December, including leading businesses Ledger, Bitget, zkSync and gmx.io.
The company also added 18 new coins to its service, including Ethereum Classic, Cardano, Solana, Sushi, Uniswap and Wrapped Bitcoin.
Banxa CEO Holger Arians said, "With the market's lightspeed acceleration pushing the industry in new directions, looking for new opportunities in the market is critical. I'm thrilled to see Banxa's continued growth driven by our expert team. In 2021, we took our capacity and service levels to new heights while growing our partner network and available coins. We're excited to see the business's continued success in 2022."
Maple Finance Protocol Master Loan Agreement
The Company has entered into an unsecured working capital loan facility in order to support the business during times of significant transaction volume growth. The Company has been growing its Total Transaction Value (TTV) very strongly and there is a requirement for increased working capital to fund the T+2 settlements.
The Company's subsidiary, Global Internet Ventures Pty Ltd. ("Global Internet Ventures"), has entered into a Master Loan Agreement (the "Loan Agreement") with Maple Finance Protocol Pty Ltd t/a Orthogonal Trading ("Maple Finance"), pursuant to which Maple Finance will provide Global Internet Ventures with a unsecured revolving credit facility in amounts specified in loan confirmation drawdowns (each, a "Loan Confirmation") delivered from time to time in accordance with the Loan Agreement. Pursuant to the first Loan Confirmation, Maple Finance will advance Global Internet the principal sum of up to USD $5 million, denominated in USD Coin (USDC) stablecoin cryptocurrency (the "Credit Facility").
The Credit Facility with Maple Finance accrues interest at the rate of 12.25% per annum and matures 30 days from the advance date (the "Maturity Date"). The Company shall have the right to pre-pay the amount of any Credit Facility before the applicable Maturity Date (with no penalty).
The Company is not issuing any securities, paying any bonus, commission, or finder's fees in connection with the Credit Facility. The Credit Facility is not convertible, directly or indirectly, into equity or voting securities of the Company or a subsidiary of the Company.
The approx FX rate between $AUD/$USD is AUD$1 = USD 0.722cents
-ends-
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)
About Us
BANXA Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00)
Banxa powers the world's largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa's mission and vision are to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.
For further information go to www.banxa.com
For more information on Maple Finance go to www.maple.finance
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.
These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.
Banxa's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: Banxa's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.
Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information, see www.banxa.com
CONTACTS:
Investor Relations:
Email: Investor@banxa.com
Brian M. Prenoveau, CFA
MZ North America
561-489-5315
BNXA@mzgroup.us
Media Contacts:
Dave Malcolm, Chief Marketing Officer / IR
Email: dave.malcolm@banxa.com
Michelle Boland, PR Group
Email: michelleb@prgroup.com.au
SOURCE: Banxa Holdings