Crypto companies are constantly seeking how to be integrated into the traditional finance system and vice versa. Banxa, a major crypto solution company, is ready to be listed on the Canadian stock exchange. This listing is a record achievement for crypto companies like this as Banxa is the first to do so.
Christmas Gift for Prospective Shareholders
The announcement was made today via an Australian news outlet called Financial Review. According to the report, the company has already been cleared by regulations in Canada. Banxa is now allowed to sell its shares to the general public and will launch on Christmas Day.
The Australian-based company met with the Canadian-based TSX Venture Exchange to commence the share listing. TSK specializes in putting out the stocks of emerging companies. As a payment solution company, Banxa was expected to follow this step to begin its lasting process.
Listing Will Bring More Transparency to the Crypto World
Banxa chairman, Domenic Carosa says the listing advances it stands on improving the financial industry even after six years. He said Banxa has always been about making the blockchain industry more secure and more open. Carosa said Banxa aims for a “financial system that will benefit customers and businesses alike.”
“Our TSX listing will make Banxa the first crypto Payment Service Provider (PSP) to be listed in the world” the chairman added. Carosa is also optimistic that this move will usher in better “transparency and governance to the crypto sector.”
Banxa’s listing is predicted to generate a market cap of about $50 million. Although this IPO was scheduled to hold in October, it had to be moved to this month. Previously, the company has generated about a tenth of it’s predicted market cap in rounds preceding the IPO.
Banxa is a well-known payment partner in the crypto world. It currently works with major exchanges like OKEX, Bithumb, Huobi, and Binance to facilitate fiat to crypto transactions. The IPO will help to boost the company’s profile and help it benefit from the budding stock market.
Recently, Either fund also got listed on the Toronto Stock exchange, following a successful IPO.
