Banxa

Banxa Holdings Inc. operates as a financial technology company providing payment and compliance infrastructure for the digital asset economy. The firm's primary function is to bridge the gap between traditional financial systems and the cryptocurrency market by offering fiat-to-crypto on- and off-ramp solutions.

Founded in 2014 by Australian entrepreneur Domenic Carosa, the company, initially named BTC Corporation Holdings Pty Ltd, began with bitcoin mining before pivoting its business model. Carosa, a seasoned tech entrepreneur who previously founded Destra Corporation and became the youngest CEO of a publicly listed company in Australia, identified the complexities for users acquiring digital assets as a key market gap. This insight led to the strategic shift towards becoming a payment service provider. A key milestone in its early history was the 2015 acquisition of BuyaBitcoin.com.au. The company launched its B2B API-integrated platform for crypto exchanges and wallets in 2019 and went public on the TSX Venture Exchange in January 2021, making it the first publicly listed payment service provider in the digital asset sector.

Banxa's business model is B2B-focused, serving cryptocurrency exchanges, digital wallets, and various Web3 applications by embedding its services into their platforms. This allows end-users of its partners to buy and sell cryptocurrencies using a wide range of traditional fiat currencies and payment methods, such as credit cards and local payment options. Revenue is generated primarily through transaction fees, commissions, and spreads on the sale and purchase of cryptocurrencies. The company provides its partners with a comprehensive solution that bundles payment processing, Know Your Customer (KYC), Anti-Money Laundering (AML) compliance, fraud detection, and chargeback mitigation.

The company’s core product is a suite of developer-friendly APIs and SDKs that enable seamless integration of its payment gateway. This infrastructure allows partners like digital asset platforms to offer their customers fiat on-ramps without handling the complexities of payment processing and regulatory compliance themselves. Banxa holds an extensive portfolio of regulatory licenses and registrations globally, which is a significant component of its value proposition. This includes numerous Money Transmitter Licenses (MTLs) across the United States, as well as registrations in Australia, Canada, the UK, the Netherlands, and Lithuania. In June 2025, it was announced that Banxa would be acquired by the Hong Kong-listed OSL Group for approximately $62 million USD.

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