BANXA (TSX-V:BNXA, OTCQX:BNXAF) Holdings Inc has announced its entry into the US$17 billion non-fungible token (NFT) market with the launch of a new cash (fiat) to NFT checkout in partnership with NFT marketplace leader Atomic Hub.
The digital payments infrastructure provider said the launch allows its global partner network access to millions of end-users looking to more easily purchase NFTs with credit cards.
"BANXA is thrilled to build upon our foundation On- and Off-Ramp product with our new Fiat to NFT checkout,” BANXA Holdings CEO Holger Arians said in a statement.
READ: BANXA expands local fiat-to-crypto payment infrastructure in Brazil, Turkey and others
“We know there is a huge amount of friction in the NFT purchase journey - and we believe our checkout product will make it easier for consumers to purchase NFTs with our partners - furthering our commitment to create more access points in and out of the cryptocurrency market,” Arians added.
BANXA noted that with an infrastructure built on the WAX certified carbon neutral blockchain, it believes this is the first of many partnerships in the ecosystem that will reduce friction for NFT purchases.
As well, the company reported that it has signed key new partners in April, including BitForex, Umbria and CoinTiger, while adding five new coins and chains including HBAR, LUNA and WAXP.
BANXA also announced that it recorded US$56 million in Total Transaction Value (TTV) for the month of April 2022, which it says is in line with the market downturn and peer base.
BANXA powers the world's largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. The company is headquartered in Melbourne, Australia, with European headquarters in Amsterdam.
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