Binance and OKEx partner to become first public cryptopayment company

Australian fiat cryptocurrency payment infrastructure provider Banxa plans to list its shares on a venture capital exchange in Canada, Financial Review reports.

The firm has already received approval from Canadian regulators.

Banxa’s shares will be traded on the TSX Venture Exchange, where Bitcoin Trader early-stage companies are listed. The platform is operated by TMX, the owner of the Toronto Stock Exchange.

The Melbourne-based company is expected to have a market capitalisation of $50 million after the offering.

„Listing on the TSX will make Banxa the world’s first cryptocurrency payment service provider, bringing much needed transparency and control to the sector,“ said founder Domenic Carlos.

According to Banxa’s website, users of the company’s services include bitcoin exchanges Binance, OKEx, Bybit, Kucoin, as well as Edge and CoolBitX wallets.

In January, Banxa raised $2m in a Series A funding round.