BANXA Holdings Inc announced that it has physically entered the US with the opening of its office in Nevada and the submission of its first Money Transmitter License (MTL) applications to solidify its position in the world’s largest and most lucrative crypto market.
The company said its US operating headquarters in Reno, Nevada, would be led by BANXA’s newly appointed USA CEO Richard Mico whose team’s top priority was obtaining MTLs which would allow the company to operate compliantly as a regulated Money Services Business (MSB).
To date, BANXA has lodged eight MTLs and the company anticipates lodging the remaining 34 applications in August this year.
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BANXA CEO Holger Adrians said being firmly cemented in the US was a huge achievement and critical to BANXA’s mission of dominating the digital asset space.
“Obtaining our own licenses and establishing a foothold in both BANXA's most critical market and the largest crypto market in general, is an important part of our core strategy which is to offer our partners and their users the most ways to enter and exit the digital asset space,” Adrians said.
BANXA USA CEO Richard Mico added that the company had decided to establish a presence in the US, one of its biggest markets, to better service its existing partners and their end users.
“By establishing a physical presence in the US, we can acquire new partners and users in a more cost-efficient way and with a broader service offering,” he said. “Being in charge of our own destiny when it comes to holding our own licenses is a core focus of BANXA's strategy."
BANXA's mission is to accelerate the world to Web3 with its leading global on/off ramp solutions.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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