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Banxa Breaks Down Crypto Barriers by Launching World-Leading Layer 2 Fiat On-Ramp
Launching Layer 2, Banxa cuts transaction time in half and reduces costs by over 300,000%1
Toronto, Ontario and Melbourne, Australia–(Newsfile Corp. – December 22, 2021) – BANXA Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or “The Company”), payment service provider (PSP) and RegTech platform for the digital assets industry, is proud to announce the launch of its world-leading Layer 2 (L2) Fiat On-Ramp.
While the cryptocurrency market has significantly grown, heavy fees and complex purchasing systems have weighed upon the industry providing unnecessary complexities and barriers to entry. The Australian-founded organisation, Banxa, has developed purchasing for a range of L2 protocols – available now – to eliminate these barriers. These protocols currently include Arbitrum, Optimism, and zkSync, allowing users to pay with Banxa’s wide range of global and local payment options, including credit card and bank transfers, for direct purchasing on L2.
The L2 Fiat On-Ramp will completely disrupt the current system by removing high “gas fees” accumulated throughout the crypto transaction process. At the same time, it will also be a catalyst to reducing fulfillment times, an issue faced within an industry that prides itself on agility and fast transactions. In 2021, Banxa processed one order every 18 seconds a day, a transaction value over USD 880 million, showcasing the true scale of transactions moving through the market.
“The crypto industry faces a complex web of challenges and barriers that might have discouraged consumers and merchants from making purchases in the past. The launch of our L2 Fiat On-Ramp offers greater accessibility to a whole new audience, breaking down two key entry barriers: high fees and faster processing times. We are honored to be launching this world-leading product as a way to transform the industry,” said Banxa CEO Holger Arians.
Banxa is a pioneer in cryptocurrency as it has created its own technology on blockchain and is rapidly expanding. The business offers a market-leading range of currencies and payment methods globally.
Since its January 6th, 2021 IPO, Banxa has gone from strength to strength, growing from 38 to over 200 team members, adding over 31 new coins and additional payment methods, such as SEPA Instant and others. Additionally, the company has accelerated its already rapid onboarding of new partners, securing 103% growth in 2021 alone.
In celebration of this launch, Banxa is offering free purchasing Layer 2 with Optimism, Arbitrum and zkSync for a limited time[2]. User’s spread fees will be waived; however, standard payment surcharges will apply, such as credit card transaction fees. This offer is now available to all users on these protocols.
ENDS
About Banxa
Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) powers the world’s largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa’s vision and mission is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.
For further information, go to www.banxa.com
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.
These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.
Banxa’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company’s business, including: Banxa’s assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.
Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
———————
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “DOMENIC CAROSA” https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)
CONTACTS:
Investor Relations:
North America: +1 (604) 609 6169
International: +61 407 790 016
Email: [email protected]
Lytham Partners, LLC
Ben Shamsian
New York/Phoenix
Email: [email protected]
Media Contacts:
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Michelle Boland, PR Group
Email: [email protected]
1 Banxa Labs 2021, Figures from December 2021 – average $90 balancer swap vs $0.03c zkPorter transaction
2 Available for 2 weeks from 22 December, or 500K fulfilment achieved on each protocol
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108346
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Zilch Partners with Amazon Web Services to Drive AI Innovation
The post Zilch Partners with Amazon Web Services to Drive AI Innovation appeared first on HIPTHER Alerts.
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Chengdu exhibition paves way for international business
CHENGDU, China, April 29, 2024 /PRNewswire/ — The International Horticultural Exhibition 2024 Chengdu kicked off on Friday, attracting hundreds of exhibitors from more than 30 countries.
Ahead of the event, the Chengdu Opening-up and International Cooperation Center organized several seminars between local enterprises and delegations from overseas cities that have friendly ties with Chengdu. On Thursday, a group from Ljubljana, capital of Slovenia and a twin city of Chengdu, met with local enterprises specializing in ecological and environmental protection.
“We are very grateful to the center for inviting us to the meeting,” said Zeng Xi, director of the investment and development department from Chengdu Environment and Investment Urban Management Service, a wholly-owned subsidiary of Chengdu Environment Group.
“We have found some fields of common interest between our group and Ljubljana, such as renewable resources, ecological conservation and new energy photovoltaics,” Zeng said, adding he hopes to establish an effective communication channel between the two sides for future cooperation.
Dejan Crnek, vice-mayor of Ljubljana, said: “We intend to collaborate with Chengdu in the sector of sustainable transportation. We all know the city has advanced hydrogen-powered vehicle and battery industries, and we hope to introduce those technologies to our city to increase urban operational efficiency. Upon my return, I will recommend Chengdu enterprises to relevant departments, and I believe there will be opportunities for cooperation.”
Representatives from Fergana, Uzbekistan, also visited the center on Thursday and met with local enterprises in the fields of trade, economy, industry, and cultural tourism. Among the participating Chengdu companies was Gioneco, a developer of urban digital platforms, which has launched projects in Uzbekistan.
“We have prepared for our projects in Uzbekistan since 2022, and have branched out into Fergana,” said Liu Yong, director of Gioneco’s marketing development department. “It is expected we will be able to access more international resources in the near future with the support of the center. Meanwhile, we plan to bring our business friends from Uzbekistan to Chengdu, helping local enterprises tap the international market and promoting bilateral trade.”
Expressing his admiration for Chengdu’s business environment, Azimjon Yuldashev, head of the Department of the Chamber of Commerce and Industry of Uzbekistan in Fergana Region, said he hopes to see a cooperation platform established by the center to help more Chinese companies grow in Uzbekistan and to assist Uzbek firms in coming to China.
View original content:https://www.prnewswire.co.uk/news-releases/chengdu-exhibition-paves-way-for-international-business-302129479.html
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Loyalty Management Market worth $25.4 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, April 26, 2024 /PRNewswire/ — Blockchain technology, sustainability-focused initiatives, subscription-based business models, and digital transformation will all have a significant impact on the Loyalty Management Market in the future. Data analytics will also drive personalised experiences in this market. In order to increase consumer engagement and loyalty, ecosystem collaborations, gamification, and voice-activated loyalty programmes will all be crucial. For firms to adjust to changing market trends and consumer tastes, regulatory compliance and ongoing innovation are crucial.
The Loyalty Management Market is expected to reach USD 25.4 billion by 2029 from USD 11.4 billion in 2024, at a CAGR of 17.3 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Loyalty Management Market”
326 – Tables
47 – Figures
275 – Pages
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Scope of the Report
Report Metrics |
Details |
Market size available for years |
2018-2029 |
Base year considered |
2023 |
Forecast period |
2024–2029 |
Forecast units |
Value (USD) Million/Billion |
Segments Covered |
By Offering, Solution, Services, Operator, Vertical and Region |
Region covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered |
The major players in the Loyalty Management Market are Epsilon (US), Oracle (US), Comarch (Poland), ICF Next (US), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy), Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), Loyalty One (Canada), Punchh (US), Ebbo (US), Preferred Patron (US), Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore), Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany), Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), Smile.io (Canada), SessionM (US), LoyaltyLion (UK), Yotpo (US), SailPlay (US), and Zinrelo (US). |
Loyalty management has evolved into a crucial component of business strategy worldwide. Businesses across various industries are increasingly adopting sophisticated loyalty management solutions to enhance customer engagement, drive repeat purchases, and foster brand loyalty. With the proliferation of digital channels and the rise of personalized customer experiences, loyalty programs have become more targeted and data-driven, leveraging advanced analytics and artificial intelligence to deliver tailored rewards and incentives.
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The professional services segment contributed the largest market share in the Loyalty Management Market during the forecast period.
Professional service providers manage a part or the entire loyalty management lifecycle for enterprises, thereby comprehending business constraints and providing major insights that help these companies optimally utilize all available resources and make the most of their technological investments. The growth in the professional services segment is governed by the complexity of operations and the deployment of loyalty management solutions. It also provides support services throughout the business tenure and creates a relationship with the organization. These services help the marketing and operations teams enhance customer experience and raise ROIs as they are customized, easily applicable, and assure availability and performance to the maximum extent.
The BFSI vertical segment is estimated to hold the largest market size during the forecast.
The BFSI vertical requires loyalty management solutions to analyze data based on touchpoints, enabling brands to offer a personalized experience. A study by Accenture found that 75% of consumers expect brands to personalize their experiences, highlighting the growing demand for tailored interactions. This is particularly true in the BFSI sector, where customers expect products, services, and communication to be relevant to their individual needs and financial goals. This sector has incorporated data analytics and AI to deliver loyalty programs and increase customer engagement. There has been a continuous technological revolution in the banking sector in the form of Automated Teller Machines (ATMs), core banking, eBanking, and mobile banking, which gave rise to various services, such as Real-Time Gross Settlement (RTGS), Centralized Funds Management System (CFMS), National Electronic Funds Transfer (NEFT), and the use of credit, debit, and smart cards. Hence, banking and financial institutions are expected to invest greater resources in the market to focus on providing better loyalty programs to their customers.
Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.
Asia Pacific, home to nearly 40% of the world’s population, is witnessing diverse implementations of loyalty management technologies. The Asia Pacific region is undergoing a notable surge in adopting loyalty management, driven by the flourishing economies of India, China, Japan, Australia, and New Zealand. The rising prevalence of internet access and the escalating per-user engagement online have prompted organizations to bolster their presence in the loyalty management sector by leveraging digital channels, including social media, websites, emails, virtual assistants, and call centers. Loyalty management solutions are adopted by many companies across industry verticals, whose primary focus is on client retention and further building sustainable customer relationships through these programs. Increasing customer retention also boosts profit margins and brings a stable source of income. Deploying a loyalty program entails an investment; however, strategies aimed at customer retention are more cost-effective than efforts directed at acquiring new customers. The surge in social media usage, the proliferation of internet access, and the expansion of the eCommerce sector constitute significant catalysts propelling the adoption of loyalty programs across Southeast Asia. Vietnam and Thailand emerged as the primary drivers within the region, with Malaysia, the Philippines, Singapore, and Indonesia following suit.
Top Key Companies in Loyalty Management Market:
The report profiles key players such as Epsilon (US), Oracle (US), Comarch (Poland), ICF Next (US), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy), Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), Loyalty One (Canada), Punchh (US), Ebbo (US), Preferred Patron (US), Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore), Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany), Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), Smile.io (Canada), SessionM (US), LoyaltyLion (UK), Yotpo (US), SailPlay (US), and Zinrelo (US).
Recent Developments:
- In March 2024, Epsilon launched the next generation of its retail media platform. Epsilon Retail Media applied AI and person-first identity in the ad server, unlocking opportunities to drive stronger outcomes with shoppers on retailers’ properties, across the open web or in tandem.
- In May 2023, Bond Brand Loyalty announced a strategic investment in its business from Colorado-based private equity firm, Mountaingate Capital. The announcement followed a substantial period of growth for Bond and reflected the potential for further expansion in both reach and offerings to serve clients better.
- In April 2023, Capillary Technologies acquired Brierley to expand its portfolio.
- In January 2023, Giift acquired a strategic majority interest in InTouch, a loyalty solutions provider based in Indonesia.
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Loyalty Management Market Advantages:
- By rewarding consumers for their recurring business, fostering brand loyalty, and lowering attrition rates, loyalty management solutions assist companies in keeping customers.
- By providing customers with individualised offers, incentives, and prizes based on their preferences and behaviour, loyalty programmes encourage greater customer engagement and increase repeat business and brand advocacy.
- With the help of loyalty management tools, businesses can make well-informed decisions and effectively target their marketing efforts by gaining vital insights about consumer behaviour, preferences, and spending habits.
- By providing individualised prizes, exclusive benefits, and VIP treatment, loyalty programmes raise customer satisfaction and foster enduring connections with clients.
- By encouraging consumers to spend more, upsell and cross-sell goods, and recommend the brand to others, loyalty management solutions generate more sales and income and boost profitability and business expansion.
- By providing distinctive benefits, experiences, and value-added services that customers find appealing, loyalty programmes assist companies in standing out from the competition and enhancing customer loyalty and market placement.
Report Objectives
- To determine and forecast the global Loyalty Management Market by offering, solution, services, operator, vertical, and region from 2024 to 2029, and analyze the various macroeconomic and microeconomic factors affecting market growth.
- To forecast the size of the market segments concerning five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Loyalty Management Market.
- Analyze each submarket concerning individual growth trends, prospects, and contributions to the overall Loyalty Management Market.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Loyalty Management Market.
- To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
- Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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