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Binance’s Fiat-Gateway Partner Banxa Expanding to US
Banxa plans to leverage custody and settlement infrastructure from exchange platform Zero Hash.
Digital banking infrastructure provider Banxa is making a move into North American markets.
STORY CONTINUES BELOW
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- In a strategic partnership announced Thursday, Australia-based Banxa plans to leverage custody and settlement infrastructure from exchange platform Zero Hash to provide the regulatory and technology means for its expansion.
- The partnership will see Banxa expand its fiat gateway API solutions for exchanges, wallets and other crypto-related businesses across North America.
- Banxa's CEO, Holger Arians, said the startup was in the final stages of a Toronto Stock Exchange listing that would position the company as the "first crypto payment service provider to be publicly listed."
- Zero Hash is a registered Money Service Business under the oversight of FinCEN, and is also a registered Money Transmitter in over 40 U.S. states.
- It was awarded a "BitLicense" allowing it to operate in New York State in 2019.
- Banxa already provides a fiat onramp for users of Binance and Edge Wallet, among others.
- It recently raised $2 million in a Series A funding round back in January of this year.
See also: Seed CX to Close Exchange, Focus on Settlements in Company Shift
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
