Cryptocurrency has evolved into a $2 trillion asset class, and industry users now have a wealth of options when it comes to choosing an exchange to buy and sell digital assets. As such, customer storage is no longer available to digital asset firms and cryptocurrency exchanges.
Banxa is a payment infrastructure platform that aims to help digital asset companies improve warehousing through compliance, regulation, and user experience.
With leading crypto payment solutions, Banxa has helped many well-known crypto exchanges implement the infrastructure to build world-famous trading platforms. This list includes crypto exchanges Binance, OKEx, KuCoin, and ByBit – all of which use Banxa to ensure that their global client base can purchase cryptocurrency using both credit/debit cards and local payment methods such as bank transfers.
Banxa’s regtech platform helps digital asset companies increase volumes and returns. In addition, the easy-to-integrate API is responsible for compliance and payments, providing its customers with the widest selection of payment methods in the industry.
Transformation means something
Based on recent research, Banxa estimates that up to 62% of customers who experience a failed transaction no longer attempt to use the service. This equates to losing nearly two-thirds of potential customers due to failed transactions.
In addition to failed transactions, fraudulent transactions can also affect the speed with which crypto exchanges can achieve desired conversion rates for customers. To identify these trends, Banxa is looking to make the exchange with onboard payment providers more challenging.
More information about BANXA here
Banxa’s focus is not only to offer regulated and compliant targeted payments to digital asset companies on cryptocurrency exchanges. The platform also contains solutions for decentralized financial protocols (DeFi) and decentralized markets, which ensure that all digital asset centers have the ability to increase customer conversions and retention.
Banxa was named one of the 50 fastest growing companies by Silicon Reviews in 2021 through a series of big-name partnerships and successes in the industry. With the broader goal of integrating the traditional financial system and digital assets, Banxa has created a plug-and-play system. A solution for companies looking to integrate digital assets into their platforms.
“We believe that the future of digital assets will depend on deeper integration with traditional payment and financial services, and building the infrastructure to achieve this is our main goal,” explained Holger Ariane, CEO of Banka.
Banxa recognized the shortcomings of the 2017 market boom fueled by initial coin offerings and found that one of the biggest problems with cryptocurrencies today is the lack of trust from reputable financial institutions. The company is currently listed on the Toronto Stock Exchange and the Frankfurt Stock Exchange, adding to the credibility of the payments infrastructure.
“We decided that regulatory compliant companies would eventually dominate the market as they become more regulated. By disseminating information about our business, proactively completing the process, registration and licensing, we plan to become the market leader in terms of transparency, reasonable payment methods, global market regulation and compliance, Arians said.