Binance's Fiat-Gateway Partner Banxa Raises $2M in Series A Round

Digital banking infrastructure provider Banxa has raised $2 million soon after partnering with Binance.

AccessTimeIconJan 15, 2020 at 2:10 p.m. UTC
Updated May 9, 2023 at 3:05 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Digital banking infrastructure provider Banxa has raised $2 million in a Series A round.

Led by blockchain investment firm NGC Ventures, the round also saw the ASX-listed Thorney Investment Group Australia participate, according to a press release on Wednesday.

  • What OnlyFans Stopping Sex Acts and Politicizing Payments Means for Crypto
    08:42
    What OnlyFans Stopping Sex Acts and Politicizing Payments Means for Crypto
  • Federal Reserve Proposes Guidelines for ‘Novel’ Banks to Access Fed Payments
    03:26
    Federal Reserve Proposes Guidelines for ‘Novel’ Banks to Access Fed Payments
  • You Can Buy a Tesla With Bitcoin, But It’s Not Easy
    06:35
    You Can Buy a Tesla With Bitcoin, But It’s Not Easy
  • Mastercard to Allow Payments With Cryptocurrencies
    04:56
    Mastercard to Allow Payments With Cryptocurrencies
  • The firm offers a fiat currency to cryptocurrency gateway solution that was recently tapped by crypto exchange Binance for its addition of Australian dollar and euro payments.

    The new investment will be used to support the firm's plans to expand in new markets including in Europe, Asia and Africa.

    “Banxa addresses the issue of user experience and onboarding while providing the much-needed regulatory assurances for newcomers to this nascent digital asset class," said Roger Lim, founding partner of NGC Ventures.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.