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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.
Updated May 9, 2023, 3:10 a.m. Published Jul 24, 2020, 10:35 a.m.
Digital banking infrastructure provider Banxa is making a move into North American markets.
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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
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