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
VANCOUVER, BC, April 6, 2021 /CNW/ – Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00)
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.”
In addition to reaching these milestones in the quarter, the company has also grown it’s partner (B2B customer) network from 50 to 63, an increase of 26% from the prior quarter. To view our latest investor webinar please click on the following link:
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “DOMENIC CAROSA”
“BANXA – Banxa Holdings Inc.(TSX-V:BNXA/OTCQX:BNXAF) is a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency. (eg..USD/CAD to BTC/ETH) Banxa has offices in Australia and the Netherlands. For further information go to www.banxa.com ”
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
For further information: Investor Relations: North America: +1 (604) 609 6169, International: +61 451 744 080, Email: [email protected]; Lytham Partners, LLC, Ben Shamsian, New York/Phoenix, Email: [email protected]; Media Contacts: Liam Bussell, Head of Corporate Communications, Email: [email protected]