TORONTO, May 14, 2024
/CNW/ - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE:
AC00) ("Banxa'' or the "Company") is excited to
announce new strategic partnerships, product enhancements.
Furthermore, Banxa is pleased to share the release and earnings
call schedule for the unaudited Q3 FY24 financial results.
STRATEGIC PARTNERSHIPS
Banxa continues to expand its partner network, bolstering
transaction volumes with key industry leaders. Highlighting a
select few partners below:
- UniSwap - An open-source decentralized exchange that
uses smart contracts for the execution of trades with lifetime
trading volume greater than USD$2
trillion and daily volumes of USD$3
billion
- Telegram Wallet - A non-custodial wallet developed by
Telegram messenger with over 7 million users globally
- Argent - An open source smart wallet on Starknet for
DeFi and NFTs with over 2 million users.
PRODUCT ENHANCEMENTS
Banxa has made significant advancements across various aspects
of its product offering, aimed at providing more value to its
partners - creating deeper partnerships and improving the end user
experience - translating to increased transaction volumes and
profitability.
US customers can now have seamless KYC experience. Backend
optimisations to Banxa's KYC flows, partners can now see
conversion rates improvements up to 20% for their US users.
With only a phone number and date of birth for verifications,
personal details are auto-filled, minimizing user input and error,
while enabling up to 3x faster KYC verification.
Customers can enjoy instant funds transfers, with over 90% of
banks in the EU and UK, by securely connecting their bank
account to Banxa via the first major Open Banking integrations for
Web3. No more manual bank transfers or leaving the checkout page,
eliminating over 20 steps previously required with
traditional bank transfers.
Customers using Apple Pay can now re-enter card details and
retry multiple times seamlessly, improving customers' payment
success rate and reducing cart abandonment without having to start
a new order. Apple Pay payments are expected to have 15%
improved success rates.
Overall, these advancements demonstrate Banxa's commitment to
innovation and addressing the evolving needs of its partners and
users in the crypto payments landscape. Banxa's primary focus is to
build a world class platform that enables partners to own their
Web3 journey and create frictionless experiences for their
customers.
UNAUDITED Q3 FY24 FINANCIAL
RESULTS RELEASE AND EARNINGS CALL SCHEDULE
Banxa will be releasing its unaudited Q3 FY24 financial results
on May 21, 2024 after market
close. Banxa will be hosting an earnings call on May 22, 2024 at 8am
EST to discuss the unaudited Q3 FY24 financial results.
All shareholders and investors are encouraged to register for the
call here: https://tinyurl.com/BanxaQ3FY24Results
ABOUT BANXA HOLDINGS
INC.
Banxa is the leading infrastructure provider for enabling
embedded crypto - empowering businesses to take control of their
crypto journey. Through an extensive and growing network of global
and local payment solutions and regulatory licenses, Banxa helps
businesses provide seamless integration of crypto and fiat for
global audiences with lower fees and higher conversion rates.
Headquartered in the USA,
Europe, and Asia-Pacific, the Banxa team is building for a
world where global commerce is run on digital assets. For further
information visit www.banxa.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Zafer Qureshi"
Zafer Qureshi = Executive Director
and Head, Corporate Affairs, +1-888-332-2692
Forward-Looking Information
This release includes certain statements and information that
may constitute forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would" or "occur". This
information and these statements, referred to herein as
"forward–looking statements", are not historical
facts, are made as of the date of this news release and include
without limitation, statements regarding discussions of future
plans, estimates and forecasts and statements as to management's
expectations and intentions.
These forward–looking statements involve
numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking
statements. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward-looking information. Readers are cautioned
that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any
forward-looking statement, forward-looking information or financial
out-look that are incorporated by reference herein, except in
accordance with applicable securities laws. We seek safe
harbor.
SOURCE Banxa Holding Inc