Crypto Payments Processor Banxa to Go Public in Canada
- The company is expecting a market capitalization of around $50 million.
Banxa, an Australian cryptocurrency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term infrastructure provider, is set to go public on the Canadian TSX Venture Exchange anytime around this upcoming Christmas.
As reported by local business daily, Financial Review on Monday, the payments processor has already received approvals from Canadian regulators for the public listing of its shares.
The Aussie firm approached the TMX-operated TSX Venture Exchange, which lists the stocks of early-stage and emerging companies. This listing is termed as the first for such payment processing companies.
The listing is expected to get the company a market capitalization of almost $50 million. Banxa was planning for the initial public offering (IPO) for months and raised around $5 million in two pre-IPO rounds.
“Our TSX listing which will make Banxa the first crypto Payment Service Provider (PSP) to be listed in the world, bringing well-needed transparency and governance to the crypto sector.”
The Perfect Time for an IPO
Founded in 2014, the Melbourne-based company offers fiat-cryptocurrency gateway, highly desired services by the digital currency exchanges and other platforms. Over the years, it has added many major clients, including crypto exchange giants, Binance and Huobi.
Moreover, the company received backing from OKGroup, a big name in the crypto industry, Alex Waislitz’s Thorney and Sydney-based fund manager, Alium Capital.
The young company is going public at a time when there is a boom in the IPO market, and the price of Bitcoin and other cryptocurrencies is rising, which increases the activity in the crypto trading market.
Banxa, an Australian cryptocurrency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term infrastructure provider, is set to go public on the Canadian TSX Venture Exchange anytime around this upcoming Christmas.
As reported by local business daily, Financial Review on Monday, the payments processor has already received approvals from Canadian regulators for the public listing of its shares.
The Aussie firm approached the TMX-operated TSX Venture Exchange, which lists the stocks of early-stage and emerging companies. This listing is termed as the first for such payment processing companies.
The listing is expected to get the company a market capitalization of almost $50 million. Banxa was planning for the initial public offering (IPO) for months and raised around $5 million in two pre-IPO rounds.
“Our TSX listing which will make Banxa the first crypto Payment Service Provider (PSP) to be listed in the world, bringing well-needed transparency and governance to the crypto sector.”
The Perfect Time for an IPO
Founded in 2014, the Melbourne-based company offers fiat-cryptocurrency gateway, highly desired services by the digital currency exchanges and other platforms. Over the years, it has added many major clients, including crypto exchange giants, Binance and Huobi.
Moreover, the company received backing from OKGroup, a big name in the crypto industry, Alex Waislitz’s Thorney and Sydney-based fund manager, Alium Capital.
The young company is going public at a time when there is a boom in the IPO market, and the price of Bitcoin and other cryptocurrencies is rising, which increases the activity in the crypto trading market.