Top Fiat-to-Crypto Gateway Eyes a Canadian Stock Exchange Listing
Banxa has announced plans to get its shares listed on Canada’s TSX Venture Exchange on December 25, with an initial market capitalization of nearly $50 million, according to reports on December 14, 2020.
Aussie Crypto Payments Gateway Goes Public
Banxa, an Australia-based internationally compliant fiat-to-crypto infrastructure provider for exchanges, wallets, and businesses, has finally come of age and it’s now looking to enlarge its coasts by becoming a publicly-traded firm.
Per sources close to the latest development, Banxa’s bid to go public got approved by Canadian regulators earlier this month and it has inked a deal with the country’s TSX Venture Exchange to get its shares listed on the platform.
If all goes as planned, Banxa’s shares will come with an initial market capitalization of $50 million, making the firm, which has been around since 2014, the world’s first crypto payments processor to go live on a regulated stock exchange.
A Long Time Coming
It’s worth noting that Banxa has been making concrete plans towards its stock exchange listing for quite some time. Last January, Banxa raised $2 million from its Series A funding round which was led by NGC Ventures, a crypto-focused venture capital investment company.
Commenting on the matter, Domenic Carosa, Banxa’s founder and chairman expressed his excitement over the impressive feat, adding that he firmly believes that the move will take the firm a step further in its journey towards championing a fairer, more inclusive, and secure financial system for enterprises and consumers alike.
“Our TSX listing which will make Banxa the first crypto Payment Service Provider (PSP) to be listed in the world, bringing the much-needed transparency and governance to the crypto industry.”
Founded in November 1999, as part of the restructuring process of the Canadian capital markets, TSX Venture Exchange is controlled by the owners of the Toronto Stock Exchange (TSX), TMX Group, and it focuses on listing startups and emerging enterprises.
Since its launch in 2014, Banxa has found a way to overcome the uncertainties in the cryptoverse and forged itself into a robust crypto-to-fiat gateway, attracting top players in the industry, including Binance, Huobi, OKEx, Kucoin, and more.
At a time when the level of positivity surrounding bitcoin (BTC) and other digital currencies is at an unprecedented level, with more and more institutional investors stacking up on these revolutionary crypto assets, Banxa’s move to go public looks like a forward-thinking maneuver and it remains to be seen how far the firm will go with this.
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