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 and MELBOURNE, Australia, Feb. 7, 2022 /CNW/ - BANXA Holdings Inc.
(TSXV: 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
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
SOURCE Banxa Holding Inc