Australia-based digital payments infrastructure provider Banxa is set to list on a Canadian stock exchange after being granted approval from local regulators earlier this month.
According to a report from the Australian Financial Review’s Street Talk, Banxa’s shares are expected to launch for trading on TSX Venture Exchange on Dec. 25, with a market cap of almost $50 million.
TSX Venture Exchange is the Canadian public venture capital marketplace for emerging companies. It’s operated by TMX group, which also owns and manages the Toronto Stock Exchange (TSX).
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The listing is described as a world-first for this type of cryptocurrency company.
“Our TSX [Ventures] listing … will make Banxa the first crypto payment service provider to be listed in the world, bringing well-needed transparency and governance to the crypto sector,” founder and Chairman Domenic Carosa said in the report.
Banxa provides “internationally compliant” fiat-to-crypto gateway services for crypto wallets and exchanges such as Binance, OKEx, Kucoin, Abra and ShapeShift, according to its website.