Specialist in Crypto Payments Secures Million in Funding

Baanx, a leading cryptocurrency payments provider approved by the U.K.’s Financial Conduct Authority (FCA), announced a successful million Series A funding round on Tuesday. The investment round, backed by major players such as Ledger, Tezos, Chiron, and British Business Bank, brings Baanx’s total funding to over million. The London-based company, known for its popular Ledger card product, recently struck a three-year partnership deal with Mastercard for the U.K. and Europe.

Traditional payment giants like Mastercard and Visa have been quietly exploring the realm of Ethereum payments, stablecoins, and the Web3 universe of non-custodial wallets – areas where Baanx excels in providing seamless connectivity.

Chief Commercial Officer Simon Jones expressed excitement about the company’s progress in developing non-custodial, on-chain products over the past year. Jones highlighted the creation of a new form of crypto payment that gives users complete control over their funds while enabling real-world spending. He believes that Baanx is on track to revolutionize the next generation of crypto payments.

With the new funding secured, Baanx plans to launch its services in the U.S. and Latin America later this year. The company boasts a user base of over 150,000 and also offers a native BXX token for its customers.