IRW-PRESS: Banxa Holdings Inc .: Banxa launches local payments in Turkey and releases market-leading off-ramp cryptocurrency for Stablecoins on major global exchanges
– Launch in Turkey allows all Turkish users on our partners’ network to buy cryptocurrencies directly with local bank transfers
– Extended crypto sales function for stack coins for larger exchanges
– 12 new partners signed in May, including AAX and Sayl.Finance
– A $ 88 million (US $ 63 million) total transaction value (TTV) for May 2022, in line with market volume; 11% increase compared to the previous month
Toronto and Melbourne, June 15, 2022 – BANXA Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00) (Banxa or the company), the world’s leading Web3 on / off ramp solution (conversion of fiat to crypto and vice versa), announces major launches as part of its strategic roadmap to offer more features in multiple markets globally. In May, the company officially launched its payment policy in Turkey, making Banxa the only on / off ramp provider operating directly in this market. Turkey ranked 8th for global consumer crypto adoption in the latest Chainalysis report 2021, while a Turkish government report from 2020 estimated that about 3% of the population owns crypto (2.4 million people). This launch is an important milestone for Banxa as it expands its local infrastructure to bring digital assets to the world.
In May, the company also launched its cryptocurrency sales product for leading stack coins in key markets in Canada, Europe, the UK and Australia. This launch means that Banxa’s comprehensive partner ecosystem of exchanges, wallets and other trading platforms can now offer its end users a full buying and selling cycle for the major stack coins, including USDC and USDT (USD Coin & Tether). Banxa is now the only platform that enables global off-ramping of stack coins using its large network of local transfer services. The top 10 stock exchange OKX was confirmed as the exclusive launch partner.
Lennix Lai, Financial Markets Director at OKX, said: OKX enables people in Turkey to trade cryptocurrencies responsibly. High-quality on / off ramp solutions give people more opportunities to build their own financial independence with OKX. Our partnership with Banxa will allow us to bring more users to our platform and offer a wider range of payment options.
Holger Arians, CEO of Banxa, stated: Our partners are constantly expecting new features from Banxa to their millions of end users, and we are pleased to be able to support them with the ability to offer off-ramping under current market conditions. We plan to expand our offering to additional key markets to bring new opportunities to our partners and their end users worldwide.
In May, Banxa announced partnerships with 12 new partners, including top 50 stock exchanges AAX and Sayl.Finance, leaders in the fast-growing NFT-as-a-service ecosystem for fire owners who want to enter the space.
For the period up to the end of May, Banxa also recorded a TTV (Total Transaction Value) of AUD $ 88m (US $ 63m), an increase of 11% month-on-month and in line with market conditions and the basis of comparison.
BANXA Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00)
Banxa’s mission is to accelerate the world to web3 with its leading global on / off ramp solution. Through its extensive network of local payment solutions combined with the necessary crypto licenses, Banxa enables its partners and projects to access global audiences with less friction and higher conversions. Banxa has a global team of web3 professionals headquartered in the United States, Europe and the APAC regions.
Visit www.banxa.com for more information.
FOR THE BOARD OF DIRECTORS
iA: DOMENIC CAROSA https://twitter.com/dcarosa
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AXC0197 2022-06-15 / 14: 35
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