I had a small starter position in $BNXAF after I first met Domenic and continued to do my due diligence on the company. I have watched leadership execute on the vision Banxa has to "build the bridge that provides people in every part of the world access to a fairer and more equitable financial system." (Source Banxa website) Revenue growth and transaction volume for Banxa have been impressive, as you can see from the numbers below.
"$594 million AUD ($431 million USD) Total Transaction Value (TTV) up 461% year on year Revenue of $28 million AUD ($21 million USD) up over 522% year on year $26 million AUD ($19 million USD) in liquid assets (including cash and equivalents) Adjusted Positive operating cash flow for the 6 months ending Dec21 Added 30 new coins/chains with current support for over 80" (Source most recent earnings report) (https://investor.banxa.com/2022-03-02-Banxa-Announces-Fiscal-Results-for-December-Quarter-2021)"
The best way to describe what Banxa does is to imagine them being similar to "Stripe or Paypal" but specifically for the digital asset industry. Domenic is one of the most knowledgeable people I have encountered in the digital and crypto universe. Banxa is more than a payment processor; they also have multiple digital asset licenses and (RegTech) registrations globally and a complete AML/KYC compliance platform. Coin, token delivery technology solution for on and off-chain delivery to the customer in the most efficient manner. There is plenty of room for growth as Dominic believes we are only in the first inning of the digital fintech economy. All of the talk about the Metaverse, NFTs, and Blockchain. Although recently, the hysteria has died down recently, which I believe is a good thing. These things have not gone away; they are being defined, and who the players will be left standing when the smoke clears is yet to be decided.
Which token, NFT, or cryptocurrency comes out on top does not matter to $BNXAF; they are agnostic to who the ultimate winner is. Banxa provides the picks and shovels behind the scenes.
$BNXAF recently filed for a NASDAQ up-listing and currently meets all qualifications to up-list except for one, which is the minimum price for the stock. This is an impressive feat since the company was listed on the OTC and Canadian exchanges only a year ago. Banxa has Zero debt and may consider doing a reverse split of 2 for 1 to up-list. Some may view it as a negative. I do not mind a reverse split with the kind of growth Banxa is achieving. If the company can escape what many people refer to as OTC hell and attract more prominent institutional investors. Reducing the number of shares outstanding and shrinking the float would be okay with me. With the possible up-list as a near-term catalyst, the share price, in my opinion, has gotten stupid cheap. I recently added to my position under two dollars. Watch the interview, and decide whether $BNXAF is another "Hidden Gem!"
https://banxa.com/
