Banxa Holdings Inc., the world's first listed payment service provider (PSP) and RegTech platform for the digital assets industry, said it recorded total transaction volume (TTV) of US$131 million in December 2021.
That record TTV represents a year-over-year increase of 337%, as the Banxa team processed over 7,000 transactions daily last month.
Banxa said it also continues to expand its partner ecosystem with 14 new tie-ups signed in December, including leading businesses Ledger, Bitget, zkSync, and gmx.io.
WATCH: BANXA Holdings talks 'significant growth' in total transaction value, Nasdaq up-list plans
The company also added 18 new coins to its service, including Ethereum Classic, Cardano, Solana, Sushi, Uniswap, and Wrapped Bitcoin.
"With the market's lightspeed acceleration pushing the industry in new directions, looking for new opportunities in the market is critical,” said Banxa CEO Holger Arians in a statement.
“I'm thrilled to see Banxa's continued growth driven by our expert team. In 2021, we took our capacity and service levels to new heights while growing our partner network and available coins. We're excited to see the business's continued success in 2022."
Working capital loan facility
Meanwhile, in other news, the company said it has entered into an unsecured working capital loan facility to support the business during times of significant transaction volume growth. The company said it has been growing its TTV "very strongly" amid an increased need for working capital to fund the T+2 settlements.
The company's subsidiary, Global Internet Ventures Pty Ltd., has entered into a Master Loan Agreement with Maple Finance Protocol Pty Ltd under which Maple Finance will provide Global Internet Ventures with the unsecured revolving credit facility in amounts specified in loan confirmation drawdowns delivered from time to time.
Pursuant to the first Loan Confirmation, Maple Finance will advance Global Internet the principal sum of up to US$5 million, denominated in USD Coin stablecoin cryptocurrency.
The Credit Facility with Maple Finance accrues interest at the rate of 12.25% per annum and matures 30 days from the advance date (Maturity Date). The company will have the right to pre-pay the amount of any Credit Facility before the applicable Maturity Date (with no penalty).
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