Digital banking infrastructure provider Banxa is making a move into North American markets.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.