Welcome to our dedicated page for Banxa Hldgs news (Ticker: BNXAF), a resource for investors and traders seeking the latest updates and insights on Banxa Hldgs stock.
Banxa Holdings Inc. (BNXAF) has been the subject of frequent corporate and regulatory updates, particularly in connection with its role as an infrastructure provider for embedded crypto and its transition from a public company to a wholly owned subsidiary of OSL BNXA Acquisition Inc., part of OSL Group Limited. The news flow around Banxa highlights both its operational developments in embedded crypto infrastructure and the steps involved in its take-private transaction.
Readers of the BNXAF news page can review announcements describing Banxa’s embedded crypto focus, its network of global and local payment solutions, and its reliance on regulatory licenses to support integration of crypto and fiat for global audiences. News items also cover the company’s regulatory milestones, such as securing a Markets in Crypto Assets (MiCA) license in the Netherlands through its subsidiary EU Internet Ventures B.V., and disclosures about money transmitter licenses in U.S. states and licenses in the UK, Canada, and Australia.
A significant portion of Banxa’s recent news relates to the plan of arrangement with OSL Group. Articles document securityholder approvals, court orders from the Supreme Court of British Columbia, updates on required regulatory approvals, and the eventual closing of the arrangement on January 2, 2026. These releases explain how all issued and outstanding Banxa shares were acquired for cash consideration and how Banxa became a wholly owned subsidiary of the purchaser, with its shares expected to be delisted from the TSX Venture Exchange, OTC Pink, and Frankfurt Stock Exchange.
Investors and researchers can use this news page to follow the historical sequence of Banxa’s financial disclosures, including quarterly and annual results, and to understand the context of the company’s strategic shift through the take-private transaction with OSL Group.
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BANXA Holdings Inc. (OTCQX:BNXAF) announced a strategic partnership with BitMart, enhancing cryptocurrency adoption in crucial markets like Asia-Pacific and Latin America. This collaboration will provide BitMart users with more fiat-to-crypto on-and-off-ramping solutions, leveraging Banxa’s extensive payment network. Key benefits include higher conversion rates and lower fees due to access to local payment options. An introductory offer of 0% gateway fees on credit card purchases is available until March 31, 2023. This partnership underscores both companies' commitment to improving the digital asset trading experience.
Banxa Holdings (TSXV:BNXA)(OTCQX:BNXAF) is finalizing its audited annual financial statements for the fiscal year ending June 30, 2022. The company reports a revenue of approximately AUD$71 million (USD$49 million), a 53% increase from the previous year. The delay in filings is attributed to a review of revenue recording methods, with no impact on gross profit. Banxa has also reclassified digital assets on cryptocurrency exchanges for transparency. The firm anticipates filing its Annual Filings and interim statements soon, which may lift the current cease trade order. Total transaction volume reached circa AUD$1.6 billion (USD$1.1 billion) in FY2022.
BANXA Holdings Inc. (OTCQX:BNXAF) has integrated with MetaMask to enhance fiat-to-crypto transactions for users in Canada, Australia, the Netherlands, South Africa, and Turkey. This partnership allows easier access to crypto via local banking networks, reducing fees for users. Through Banxa's platform, MetaMask users can utilize standard payment methods like credit cards and Apple Pay, alongside regional options such as Interac in Canada. The integration promotes seamless fiat transfers, improves compliance, and simplifies onboarding for new crypto users. This move aligns with the growing demand for decentralized finance solutions.
Banxa Holdings (OTCQX:BNXAF) provided an update on its trade cessation status and business progress. The company is finalizing its audited financial statements for the year ending June 30, 2022, in collaboration with RSM Canada. Banxa has secured 12 USA Money Transmitter Licences and completed over 30 integrations, generating an additional AUD$500,000 in gross profit. To support increasing working capital needs, Banxa's subsidiary BTC entered a loan agreement for up to AUD$2 million with Thorney, accruing interest at 19.99%.
Banxa Holdings (OTCQX:BNXAF) announced delays in filing audited financial results for 2022, causing a trade cessation. Growth in transaction volumes strained financial systems, necessitating additional audit verifications. The company aims to enhance future audits by transitioning to SOC-compliant liquidity providers. Despite these issues, Banxa reported solid business progress, including partnerships with LG Electronics, integration with major Web3 players, and securing 10 Money Transmitter Licenses in the USA. The company claims clear visibility to profitability in FY2023.
Banxa Holdings has announced a delay in filing its audited annual financial statements for the fiscal year ended June 30, 2022, initially due by October 28, 2022. The delay has resulted in a Cease Trade Order (CTO) from the British Columbia Securities Commission. The company’s auditor, RSM Canada, requires additional time to complete the audit. Despite this, Banxa reports it has approximately AUD$12 million in cash on hand and that normal trading continues. An update for shareholders is expected within 5-10 business days.
Banxa Holdings has successfully closed a CAD$3,500,000 funding deal under a previously announced agreement with Lind Global Fund II, LP. This funding includes the issuance of a convertible security with a face value of CAD$4,200,000 and warrants for 2,673,228 common shares at CAD$1.27 each. CEO Holger Arians expressed optimism about having over AUD$12 million in cash, providing over 12 months of operational cash runway. This funding is expected to support Banxa's growth as it navigates the current crypto market challenges.
Banxa Holdings Inc. has made significant progress in the U.S. market by receiving approval for five additional State Money Transmitter Licenses (MTLs), bringing its total to seven. The company has 33 more MTL applications pending, reinforcing its position in the cryptocurrency sector. Recent partnerships include agreements with MARBLEX, a major South Korean mobile-gaming firm, and dYdX, a prominent decentralized exchange. These developments enhance Banxa's role in the digital assets ecosystem, contributing to its mission of accelerating the transition to Web3.
Banxa Holdings has secured a CAD$3.5 million investment from Lind Global Fund II, enhancing its capital for licensing, technology, and general operations. This funding agreement involves a convertible security with a principal amount of CAD$3.5 million and pre-paid interest of CAD$700,000. Banxa aims to use these funds to bolster its cash reserves, which will exceed AUD$12 million, providing over 12 months of operational cash runway. The investment reflects Lind's commitment as a long-standing investor in Banxa since 2020.
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