Australia-based digital payments infrastructure provider Banxa is set to list on a Canadian stock exchange after being granted approval from local regulators earlier this month.
According to a report from the Australian Financial Review’s Street Talk, Banxa’s shares are expected to launch for trading on TSX Venture Exchange on Dec. 25, with a market cap of almost $50 million.
TSX Venture Exchange is the Canadian public venture capital marketplace for emerging companies. It’s operated by TMX group, which also owns and manages the Toronto Stock Exchange (TSX).
The listing is described as a world-first for this type of cryptocurrency company.
“Our TSX [Ventures] listing … will make Banxa the first crypto payment service provider to be listed in the world, bringing well-needed transparency and governance to the crypto sector,” founder and chairman Domenic Carosa said in the report.
The exchange listing follows on from a $2 million Series A funding round in January which undertaken to support the firm’s plans to expand into new markets.
Banxa provides “internationally compliant” fiat-to-crypto gateway services for crypto wallets and exchanges such as Binance, OKEx, Kucoin, Abra and ShapeShift, according to its website.