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Binance's Fiat-Gateway Partner Banxa Raises $2M in Series A Round
Digital banking infrastructure provider Banxa has raised $2 million soon after partnering with Binance.
Digital banking infrastructure provider Banxa has raised $2 million in a Series A round.
STORY CONTINUES BELOW
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Led by blockchain investment firm NGC Ventures, the round also saw the ASX-listed Thorney Investment Group Australia participate, according to a press release on Wednesday.
The firm offers a fiat currency to cryptocurrency gateway solution that was recently tapped by crypto exchange Binance for its addition of Australian dollar and euro payments.
The new investment will be used to support the firm's plans to expand in new markets including in Europe, Asia and Africa.
“Banxa addresses the issue of user experience and onboarding while providing the much-needed regulatory assurances for newcomers to this nascent digital asset class," said Roger Lim, founding partner of NGC Ventures.
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics. Daniel holds small amounts of BTC and ETH (<a href="https://qa.coindesk.com/editorial-policy/">See: Editorial Policy</a>).
