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.
Banxa Holdings Inc. (www.banxa.com) (CNW Group/Banxa Holding Inc)
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.
Seamless KYC
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.
Open Banking
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.
Repeat Payment Attempts
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.
