Australia-based cryptocurrency payments processor Banxa is reportedly going to go public in Canada very soon. Australian Financial Review’s Street Talk has reported recently that this digital assets payments infrastructure provider will be listed on a Canada-based stock exchange called TSX Venture Exchange.
Listing of Banxa’s shares on TSX
Banxa is a fiat-to-crypto gateway solution for cryptocurrency exchanges, wallets, and crypto-related businesses. The shares of Banxa are now going to be listed on the Canadian TSX Venture Exchange. With this listing, the Australian payment processor will get a market capitalization of around $50 million.
Reportedly, it is expected that this listing of Banxa’s shares will be rolled out on the 25th of December. With this listing, Banxa will become the first such cryptocurrency payment service provider firm in the world to get listed on a stock exchange and achieve this significant milestone, said Domenic Carosa the Chairman and Founder of Banxa. Carosa stated:
“After almost six years in the blockchain industry, our goal remains the same; to champion a fairer, more open and secure financial system for the benefit of consumers and businesses alike. 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 one hurdle that always restricts any crypto-related entity to get listed on a stock exchange is the regulatory approval. However, Banxa is not facing this hurdle anymore as the regulatory authorities of Canada have already granted the regulatory approval to the payment processor. Now, Banxa’s shares are ready to be listed for trading on the trading platform of the TSX Venture Exchange.
Operated and managed by TMX group, TSX Venture Exchange aims at listing emerging firms on its platform. Canada’s major stock exchange known as the Toronto Stock Exchange is also owned by the operating company of TSX.
Banxa Partners with Bingbon
Meanwhile, the payment processor firm has made a partnership agreement with Bingbon a digital asset derivatives trading platform. As per the partnership agreement, Banxa will collaborate with Bingbon while helping it to expand its fiat gateway across Australia, Great Britain, and Europe.