Banxa Holdings Inc. said it has been granted five additional US State Money Transmitter Licenses (MTLs) to now cover seven states, with 33 MTL applications pending.
In a business and market activities update to investors, Banxa CEO Holger Arians said it was exciting to see the company’s US endeavors progressing faster than anticipated.
“Having these MTLs solidifies Banxa's position in the largest crypto market along with the numerous commercial benefits it brings to our partners and us,” Arians said.
READ: Banxa secures $3.5M cornerstone investment from Lind to bolster its balance sheet
The company also said it continued to prove itself in the digital assets ecosystem by partnering with a myriad of notable players.
Major recent partnership wins include MARBLEX (Netmarble), one of South Korea's largest mobile-gaming companies with gross revenues of more than US$2 billion in 2021, and dYdX, one of the largest decentralized exchanges for cryptocurrencies with daily trading volumes of US$1 billion.
Banxa's mission is to accelerate the world to Web3 with its leading global on-and-off ramp solution. Through its extensive network of local payment solutions paired with the required crypto licenses, Banxa gives its partners and projects access to global audiences with less friction and higher conversions.
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