BANXA Holdings Inc. (Banxa), the on-and-off ramp solution for Web3, announced it has formally entered a new partnership with WonderFi Technologies Inc. (WonderFi), a tech firm with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. The deal builds on Ethereum, Polygon, and Bitcoin blockchains, and targets key markets including Australia, Brazil, European Union, United Kingdom, and the US.
What is Banxa’s market offering?
Banxa enables WonderFi customers to utilize local payment and banking options with less friction, fewer fees, and better fraud protection. Users are able to easily and securely convert fiat currency to cryptocurrencies and back again. Banxa’s solutions also provide many important benefits to WonderFi’s gateway platform, including higher conversion rates along with rigorous compliance and risk management across countless geographies.
Commenting on the deal, Banxa CEO Holger Arians said, “We are thrilled to be partnering with WonderFi. Together, we are building the foundational infrastructure needed for the next generation of financial services. Banxa’s B2B services provide a seamless experience for our partners to offer their clients local payment methods in a safe, compliant way.”
Kevin O’Leary, Strategic Advisor and Investor at WonderFi, said of the partnership: “With regulatory interest in cryptocurrencies rapidly increasing around the world, it is more important than ever for Web3 to embrace best-in-class compliance and risk management. Our partnership with Banxa provides this assurance for our customers across the globe.”
“WonderFi is committed to ensuring customers in our network can transact crypto securely and confidently, without the concerns that might come from less developed platforms.”
What does the partnership mean to WonderFi?
“Thanks to our deal with Banxa, WonderFi’s users can purchase crypto through the widest range of payment methods available. This added flexibility is another step in our mission to bring fair, efficient, and accessible finance to the masses,” said Ben Samaroo, CEO, WonderFi.
WonderFi is the latest investor to join Banxa’s growing list of marquee partners, such as leading Web3 projects like Binance, KuCoin, OKX, Huobi, and many more.