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Summary
- Banxa Holdings Inc, a cryptocurrency payments processor, is one of the newest members of the Toronto Stock Exchange Venture family.
- Stocks of this Australian company began trading on the TSXV platform on Wednesday, January 6, under the trading ticker of ‘BNXA’.
- The debutant stocks started trading at C$ 0.9, reflecting a market cap of over C$36 million around 9 am EST.
Cryptocurrency exchanges operator Banxa Holdings Inc (TSXV:BNXA) is all set to be one of the newest members of the Toronto Stock Exchange Venture family. Stocks of this Australian company began trading on the TSXV platform on Wednesday, January 6, under the trading ticker of ‘BNXA’.
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Banxa Holdings Inc is a cryptocurrency payments processor based in Cremorne, Victoria. The company was approved by Canadian regulators to publicly list its shares on the TSXV in December last year after it completed its qualifying transaction.
Banxa Holdings Founder and Chairperson Domenic Carosa had earlier tweeted that following its TSXV listing, the company will be the first crypto Payment Service Provider (PSP) to be listed on an international level.
The debutant stocks started trading at C$ 0.9 and closed at C$ 1.92. Its current market cap, as on January 6 market close, is C$ 78.1 million.
A Little Background on Banxa Holdings Inc
- Originally known as BTC Corporation Holdings Pty Ltd, the company signed an agreement in February 2020 to acquire Canadian listed capital pool company A-Labs Capital I Corp in a reverse takeover transaction.
- As a part of the deal, the shell company was set to be renamed as Banxa Holdings Inc.
- The company was founded in 2014, and currently has major clients including crypto exchange titans Binance and Huobi accessing its fiat-cryptocurrency gateway and services.
- Banxa Holdings Inc is also reportedly backed by crypto industry giant OKGroup, investment company Thorney Opportunities and Sydney-based crossover investment fund manager Alium Capital.
- Cryptocurrency payments operator Banxa Holdings Inc is going public at a time when the IPO fever is on the rise in the North American markets, as well as the demand of Bitcoin and other cryptocurrencies is climbing.
