Binance’s Fiat-Gateway Partner Banxa Expanding to US

Banxa plans to leverage custody and settlement infrastructure from exchange platform Zero Hash.

Jul 24, 2020 at 10:35 a.m. UTC
Updated Sep 14, 2021 at 9:35 a.m. UTC

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.
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