TORONTO and MELBOURNE, March 8, 2021 /CNW/ - BANXA (TSXV: BNXA) (FSE: AC00) (OTCQX: BNXAF) ("BANXA" or "Company") a Payment Service Provider (PSP) for the digital asset industry announced Total Transaction Value (TTV) for February 2021 of CAD $70.4M (AUD$71.5M). This result is up over 980% from Feb 2020 based on the Previous Corresponding Period (PCP). [Management Prepared].
This follows the January 2021 reported TTV of CAD $55M, bringing the combined TTV for Jan/Feb 2021 to CAD $125M, which means the company has exceeded the December 2020 quarter TTV of $111M with a month still to go.
Holger Arians, CEO of BANXA said, "Since our launch in 2014, Banxa has grown from strength to strength. The recent dip in the bitcoin market has left our order volume unaffected, and our market share continues to increase. As the company expands, our aim is to build our systems and teams for scale. While we anticipated rapid growth, current market conditions are having us revise our projections as we continue to exceed our own forecasts. We look forward to 2021 and the unveiling of new products and offerings to better serve our customers and partners."
Banxa provides its clients safe, compliant access to the digital assets market, Banxa partners include major exchanges and wallets including Binance, OKEx, Huobi, Edge and Kucoin. Unlike its competitors, Banxa actively pursues regulation and licensing in the markets that it enters, with the aim of providing more options and services for its global customer base.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA"
BANXA (TSX-V:BNXA - Banxa Holdings Inc.) 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. (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