Baanx, a pioneering cryptocurrency payments company endorsed by the U.K.’s Financial Conduct Authority (FCA), has secured a significant financial boost with a $20 million Series A funding round. This strategic investment was led by notable entities including Ledger, the Tezos Foundation, Chiron, and the British Business Bank. The move marks a significant milestone for Baanx, elevating its total funding to over $30 million.
The London-based firm, renowned for managing the Ledger card product, has recently solidified a three-year partnership with Mastercard targeting the U.K. and European markets. This collaboration underscores the growing interest and integration of traditional financial giants like Mastercard and Visa in the realms of cryptocurrency, stablecoins, and the innovative Web3 ecosystem. These sectors are precisely where Baanx excels, offering seamless connectivity and innovative solutions.
“Over the past 12 months, we have been building out a series of non-custodial, on-chain products, creating a whole new type of crypto payment,” stated Simon Jones, Chief Commercial Officer at Baanx, in an interview. He further highlighted the company’s ambition, “Allowing the user full control of their funds whilst enabling real-world spend, we hope to power the next generation of crypto payments.” This vision aligns with the broader objectives of the Tezos Foundation, which aims to foster innovation and adoption within the blockchain and crypto spaces.
The recent influx of funds is earmarked for significant expansion, with Baanx aiming to launch its services in the United States and Latin America later this year. The company’s innovative approach to crypto payments, combined with the strategic support from the Tezos Foundation, positions Baanx to make substantial inroads in these new markets. Additionally, with a user base already exceeding 150,000, Baanx is set to redefine the landscape of crypto payments.
The partnership with Ledger, a leading crypto hardware wallet manufacturer, also underscores the synergy between Baanx’s payment solutions and secure storage options for cryptocurrency users. This collaboration not only enhances the utility of the Ledger card but also broadens the accessibility and appeal of cryptocurrency payments to a wider audience.
As Baanx embarks on this next phase of growth, its alignment with the Tezos Foundation’s ethos of decentralization and innovation is evident. This strategic funding round not only reinforces Baanx’s position in the crypto payments sector but also highlights the growing convergence between traditional financial services and the burgeoning world of cryptocurrency and blockchain technology.
The Tezos Foundation has partnered with Baanx to introduce a Tezos-branded, non-custodial crypto card on Etherlink. This collaboration aims to leverage Etherlink, an Ethereum-compatible Layer 2 blockchain powered by Tezos Smart Rollups technology, to facilitate swift and cost-effective payments.
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Baanx, a pioneering cryptocurrency payments company endorsed by the U.K.’s Financial Conduct Authority (FCA), has secured a significant financial boost with a $20 million Series A funding round. This strategic investment was led by notable entities including Ledger, the Tezos Foundation, Chiron, and the British Business Bank. The move marks a significant milestone for Baanx, elevating its total funding to over $30 million.
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The fast growing fintech Baanx, has announced the launch of Cryptolife, a game-changing digital app built to integrate with the Tezos blockchain for new and existing Tezos token holders.
Introducing “Cryptolife”— a game-changing digital app built to integrate with the Tezos blockchain for new and existing Tezos token holders.
The app will offer a mobile-first, digital asset-friendly platform for users to manage their digital assets and access new services right from their fingertips.
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