What Banxa does

Banxa is a B2B crypto-fiat payment infrastructure provider founded in Melbourne in 2014 by Domenic Carosa and Holger Arians, initially operating as Apollo Capital. Following its TSX Venture Exchange listing in 2021, the company was taken private by Hong Kong-listed OSL Group in January 2026 for approximately C$80.4 million and now operates as a wholly-owned subsidiary. Banxa's product is an embedded crypto-fiat exchange and compliance platform delivered to enterprise clients via REST APIs, client-side SDKs (JavaScript, Python, iOS, Android, React Native), and white-label components.

The platform's core offering is fiat-to-crypto on-ramp and crypto-to-fiat off-ramp services spanning 150-180+ countries and supporting 165+ cryptocurrencies across approximately 40 blockchain ecosystems. Built on this transaction base are modular features including virtual accounts for instant payment processing, FX services with hedging, wallet management, programmable smart accounts, crypto transfers, a patented (2023) KYC/AML compliance engine, treasury management, and payment settlement. The compliance stack is differentiated by 45+ regulatory authorizations, including MiCA authorization in the Netherlands (covering 30 EEA countries), US Money Transmission Licenses, UK FCA registration, Canadian FINTRAC MSB registration, AUSTRAC registration, and FinCEN MSB registration. The architecture is reinforced by integrations with ComplyAdvantage, Chainalysis, and Plaid for screening and payment processing.

Banxa's revenue model is dual-track: a transaction-fee stream charging 1-5% service fees plus 1-3% FX markups (3-8% blended) on consumer-facing purchases, and a B2B enterprise licensing arrangement with exchanges, wallets, PSPs, and fintechs on volume- and integration-customized terms. The company does not sell directly to consumers; distribution is exclusively through OEM-style embedding into partner platforms including Kraken, KuCoin, OKX, Trust Wallet, MetaMask, Phantom, Checkout.com, Worldpay, and Worldline. Under OSL Group ownership, the infrastructure now extends into the USDGO stablecoin and OSL BizPay B2B payment solution, and into new verticals through partnerships such as TON Foundation for APAC stablecoin acceptance and Kite mainnet for Layer-1 ecosystem distribution. Revenue scaled from A$46M (FY2021) to A$432M (FY2025), but the company reported negative EBITDA and negative shareholder equity in 2025, indicating top-line scale without profitability.

Name

Banxa

Legal name

Banxa Holdings Inc.

Website

https://banxa.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Banxa is an API-first crypto-fiat payment infrastructure provider enabling exchanges, wallets, PSPs, and fintech platforms to embed compliant on-ramp and off-ramp services. Now a wholly-owned subsidiary of OSL Group following its January 2026 take-private acquisition.

Ownership category

akta.pro rank

Product category

Crypto Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

akta.pro secondary industries

Crypto Payment Gateways & Checkout APIs (FSADAIAA), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), B2B Crypto Payouts, Mass Payments & Treasury Disbursements (FSADAIAF), Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO)

Keywords

• Crypto payment infrastructure
• Fiat-crypto on-ramp
• Payment service provider
• Regulatory compliance tech
• Crypto-fiat conversion

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction Fees: Banxa charges service fees of 1-5% plus 1-3% exchange rate markups totaling 3-8% per transaction, positioning as a convenience-focused payment gateway for crypto purchases.
2. Partner/Enterprise Licensing: B2B API and SDK licensing arrangements with exchanges, wallets, PSPs, and fintech platforms integrating Banxa's payment infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Banxa provides API-first crypto-fiat payment infrastructure that enables exchanges, wallets, PSPs, and fintech platforms to embed compliant fiat-to-crypto on-ramp and crypto-to-fiat off-ramp services into their applications. The platform supports credit cards, bank transfers, and local payment methods across 150+ countries, backed by a patented automated KYC/AML engine and 45+ regulatory licenses. Revenue is generated through transaction-based fees (3-8% per transaction) and enterprise API/SDK licensing arrangements with partners such as Kraken, KuCoin, OKX, MetaMask, and Trust Wallet.

Product overview

Banxa is a modular crypto payment infrastructure platform that provides a comprehensive suite of services bridging traditional finance and Web3. The core offerings include fiat-to-crypto on-ramp and crypto-to-fiat off-ramp services, which form the foundation of the platform. Built on this core, Banxa offers developer tools including REST APIs and SDKs (JavaScript, Python, iOS, Android, React Native) for platform integration. Supporting modules include FX Services with competitive exchange rates, Virtual Accounts for instant payment processing, Wallet Management, Smart Accounts (programmable financial accounts), Crypto Transfers, KYC/AML Compliance Engine (patented), Treasury Management, and Payments & Settlement solutions. Under OSL Group's ownership, Banxa's infrastructure also supports the USDGO stablecoin and OSL BizPay B2B payment solution. The modular architecture allows businesses to embed various crypto functionalities based on their needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Fiat-to-Crypto On-Ramp Services Core service enabling users to convert fiat currency into digital assets using credit cards, bank transfers, and local payment methods in over 180 countries, delivered to end users through partner platforms such as exchanges and wallets.
• Crypto-to-Fiat Off-Ramp Services Service allowing users and businesses to convert cryptocurrency back to fiat currency, enabling settlement in traditional currencies. Delivered to exchanges, wallets, and merchant platforms via API and SDK integrations.
• Developer APIs and SDKs REST API and client-side SDKs (JavaScript, Python, iOS, Android, React Native) enabling developers at exchanges, wallets, PSPs, and fintech platforms to integrate Banxa's crypto-fiat services into their applications. Documented at docs.banxa.com.

Quantifiable outcome

• $10B processed annually across 150+ countries
• +1 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core.

• Kite MainnetcoreStrategic or Co-development Partner · 30 April 2026Banxa joined as a launch partner for Kite mainnet, providing regulated fiat on-ramp infrastructure enabling users to convert fiat into digital assets using credit cards, bank transfers, and local payment methods in over 180 countries. The collaboration simplifies blockchain onboarding and ensures regulatory compliance from day one.
• TON FoundationcoreStrategic or Co-development Partner · 17 February 2026Strategic partnership to roll out stablecoin payment processing for SMBs across the Asia-Pacific region. The integration combines Banxa's fiat-to-crypto on- and off-ramp network with TON's blockchain infrastructure supporting B2B settlements, C2B payments, and cross-border transactions with sub-second settlement times and minimal fees.
• Vicox LegalcoreStrategic or Co-development Partner · 2 January 2026European law firm specializing in crypto-asset real estate transactions partnered with Banxa to enable international investors to purchase properties across Spain, Portugal, France, Greece, and Montenegro using cryptocurrency in full regulatory compliance. The partnership leverages Banxa's MiCA license and targets Asian investors seeking European real estate exposure.
• ComplyAdvantagecoreTechnology or Integration · 1 January 2019Partnership initiated in 2019 for AML and adverse media screening solutions to enhance compliance efficiency and reduce false positives. ComplyAdvantage's solutions help Banxa improve monitoring, tailor risk profiles, and manage growing regulatory obligations during cryptocurrency market expansion.
• ChainalysiscoreTechnology or IntegrationBlockchain analytics and compliance partner integrated into Banxa's compliance infrastructure for transaction monitoring and sanctions screening.
• PlaidcoreTechnology or IntegrationFinancial data platform integration for bank account verification and payment processing in supported markets.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Coinbase Commerce: Coinbase is a large incumbent exchange that has built its own on-ramp and merchant payment infrastructure. Competes with Banxa both as a partner (Banxa is integrated as payment provider) and as a competitor for merchant and exchange on-ramp volume.
• Stripe (crypto onramp): Stripe's expanded crypto on-ramp APIs (via partnerships) compete with Banxa for fintech and merchant integrations. A much broader payments incumbent whose moves into crypto rails threaten Banxa's B2B partner position.
• Checkout.com (crypto): Checkout.com is a global PSP that Banxa counts as an integration partner, but it has been progressively expanding its own crypto and stablecoin capabilities. Represents both partnership and competitive overlap as PSPs move into crypto rails.
• Binance Pay: Binance Pay provides fiat and crypto payment infrastructure as part of Binance's broader exchange ecosystem. Represents the in-source risk for exchange on-ramp volume that Banxa depends on.

Direct peers

• MoonPay: MoonPay is the leading direct competitor to Banxa, offering API-first fiat-to-crypto on/off-ramp infrastructure embedded into exchanges, wallets, and brands. It competes head-to-head for tier-1 exchange and wallet integrations with overlapping crypto coverage and similar developer-first GTM.
• Ramp Network: Ramp Network is a UK-headquartered crypto on-ramp competitor with strong European presence and MiCA-aligned positioning. Directly comparable to Banxa in B2B API/SDK integration model and target customer base of wallets and exchanges.
• Mercuryo: Mercuryo is a direct competitor offering fiat-crypto payment infrastructure embedded into wallets, exchanges, and Web3 platforms. Competes with Banxa on geographic reach, payment method coverage, and price.
• Onramper: Onramper is an aggregator of fiat-to-crypto on-ramp providers, including competing with Banxa by routing to peers like MoonPay and Transak. Relevant as Banxa could be one of the providers aggregated, and Onramper targets similar wallet/dApp integrations.
• Transak: Transak provides fiat-to-crypto on-ramp APIs and SDKs with global coverage, competing directly with Banxa for wallet and dApp integrations. Both target developer-first integration with similar pricing models.

Emerging players

• Sardine: Sardine is an emerging on-ramp provider combining fraud/compliance rails with crypto purchase flows. Targets similar exchanges/wallets with comparable API-first integration model but differentiated fraud-first positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BanxaOfficial

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banxa