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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.
Updated May 9, 2023, 3:05 a.m. Published Jan 15, 2020, 2:10 p.m.
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Digital banking infrastructure provider Banxa has raised $2 million in a Series A round.
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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.
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.
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Milo tops $100 million in crypto-backed mortgages, closes record $12 million deal
The firm, which holds mortgage provider licenses in ten U.S. states with more to follow, has a perfect track record of zero margin calls across its mortgage portfolio.
Cosa sapere:
- Milo allows crypto holders to pledge their bitcoin or ether as collateral for loan amounts up to $25 million without having to sell their digital assets.
- Milo asks for 100% of the value of the property in crypto collateral, which can be held with qualified custodians like Coinbase or BitGo, or there is a self-custodial option.
- The loans, which start at 8.25%, can also be used for things like acquiring land, funding home improvements, and business investments.
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