Highlights:

• Total Transactions Value (TTV) for April 2021 was $110 million which represents a 1,000% increase vs. April 2020
• The company has processed over $310 million in transactions since the beginning of 2021
• The company has expanded its Operations, Business Development and Compliance personnel, recruiting over 40 new team members to meet the growing demand

TORONTO and MELBOURNE, May 5, 2021 /CNW/ - BANXA (TSXV: BNXA) (FSE: AC00) (OTCQX: BNXAF) Banxa Holdings, the digital asset payments provider, is excited to announce that Total Transaction Volume (TTV) results for April, has exceeded $100 million for the first time, reaching record volume of $110 million (over 30% increase over previous record).

The company has undergone unprecedented growth over the last twelve months, scaling from $11 million in April 2020 to $110 million this month. At the same time, the company has become registered with the financial authority in The Netherlands and has begun to scale its Asian, European and North American operations.

Holger Arians, CEO of BANXA said "We are thrilled to report another record month, both our partners and our team are working hard, and we are adding new partners every month. The whole digital asset market is booming and is moving into the middle stage of this growth period. It's pretty clear even to the naysayers that digital assets are here to stay.

At Banxa, we think this is simply another sign that the industry is sustainable and maturing. We are building the infrastructure and team that will allow us to best serve the ever increasing number of new market entrants. We see the future of the industry being more transparent, more reliable and safer. We are expanding our compliance and regulatory functions to meet this future demand."

Banxa is a payment service provider and processor for the digital asset space and works by partnering with cryptocurrency exchanges, wallets and DeFi (decentralised finance) platforms to allow their customers to purchase digital assets via multiple payment methods such as credit/debit card, Apple Pay or bank transfer. The company guarantees zero chargebacks to its partners and security to its end users, which aims to give peace of mind to customers in the uncertain crypto space.

ON BEHALF OF THE BOARD OF DIRECTORS

Per:  "DOMENIC CAROSA" 
         Domenic Carosa 
         Chairman (1-888-218-6863)

About BANXA

BANXA - Banxa Holdings Inc. (TSX-V:BNXA/OTCQX:BNXAF/FSE:AC00) is a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency (eg. USD/CAD to BTC/ETH). Banxa has offices in Australia, the Netherlands and Lithuania. For further information go to www.banxa.com 

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. BANXA's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of BANXA's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: BANXA's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results. Except as required by securities law, BANXA does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, see www.banxa.com

SOURCE Banxa Holding Inc