BANXA reports 793% Year-on-Year Increase in Total March quarter Transaction Value

  • $400 million in transactions for the 9 month period ended March 31
  • Record March quarter transactions of $205 Million
  • Record transactions of $79.5 Million for the month of March 2021
  • 26% quarter-on-quarter increase to 63 network partners

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BANXA, a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space has announced it’s Total Transaction Value (TTV) results for the month of March 2021. The company recorded $79.5 million AUD in total transactions, up 13% since last month ($70.4 million) and up 696% on the same reporting period in March 2020. This brings the TTV for Jan-Mar 2021 quarter to $205 million AUD. This is a 793% increase from Previous Corresponding Period (PCP). Banxa also reported over $400 million in TTV for the nine-month period ended March 31.

Holger Arians, CEO of Banxa, said “The digital asset industry has been undergoing a period of sustained and continuous growth. This has driven interest throughout the market. The sudden influx of new users on exchanges and wallets has driven higher demand. However, the interest in Banxa is largely decoupled from digital asset pricing. There’s interest irrespective of price. If the market moves downward, clients buy the dip. If it moves upward, new entrants enter the market for the first time. Holger adds,”This has placed some strains on the services of digital asset service providers, including Banxa. We have scaled up our Customer Experience and Support teams to cope with that extra demand.”

Click here to read the full article on Yahoo Finance.

About Banxa Holdings Inc ((TSX-V:BNXA)

IPO Raising: Banxa is an internationally compliant Payment Service Provider (PSP) servicing crypto exchanges, wallets and other cryptocurrency businesses.

Banxa offers global and local payment methods like credit cards and retail store networks. With zero chargebacks and an easy to integrate API, exchanges, wallet providers and other industry players can offer their customers an easy and secure way to buy cryptocurrency.

Banxa takes care of all regulations, payment network integrations, operational overheads and fraud management. The company has been named one of ‘250 crypto companies to watch in 2020’ by and one of ‘Australia’s fastest growing tech startups’ by Growthlist.

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