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Banxa

Provider
PSPCrypto / Stablecoin

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 3 companies across 2 categories.

banxa.com ↗Also analysed as a company — its own stack →
CategoriesPSP, Crypto / Stablecoin
Rank#21 of 57 in Crypto / Stablecoin
Buyers3 companies
HeadquartersToronto, Ontario, Canada
Founded2014
FoundersDomenic Carosa

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Founders & story · from Banxa’s own dossier

Founded in 2014 as a fiat-to-cryptocurrency payment processor in Australia, Banxa evolved from a direct consumer-facing crypto on-ramp into a B2B infrastructure provider for embedded crypto. The company repositioned itself as the compliance and payments layer that wallets, exchanges, fintechs, and dApps integrate via API, handling KYC, AML, licensing, and settlement so partners do not need to build or obtain their own regulatory infrastructure. This shift — from consumer product to embedded infrastructure — is now the core business model, processing $10B in annual transaction volume across 150+ countries under 45 regulatory licences.

Latest round: IPO, 2021 (TSXV: BNXA)
Recent developments
  • 2025-04Banxa announced a secured promissory note of up to US$5.0 million from an arm's-length third party for working capital, maturing in six months at 10% p.a. source ↗
Full dossier: Banxa’s own stack, layer by layer →
Who uses Banxa
3 companies disclose Banxa in their stack
ZenGoChangellyTon Foundation
What the disclosures say
ZenGo
“zengo.com/buy names Banxa, MoonPay, Transak, Google Pay and Apple Pay support; Onramper partnership press release Nov 2025”
Changelly
“changelly.com/business/fiat-api: 'Let Your Users Sell Crypto — Offer your customers easy withdrawals directly from your platform with our fiat off-ramp API. 200+ Crypto & 100+ Fiat Currencies.' The on/off-ramp is operated by Changelly and aggregates MoonPay, Banxa, Transak, Wert, Kado as upstream providers.”
Ton Foundation
“Foundation uses OpenPayd for fiat rails and Banxa for stablecoin on/off-ramps.”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Banxa? Claim this profile above to unlock your own full list.
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What Banxa runs on · from its own dossier
The third-party providers Banxa itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose Banxa.
Sponsor Bank
Zero Hash
Crypto Custody
Fireblocks
Full dossier with evidence for each layer →
Alternatives to Banxa

Other Crypto / Stablecoin providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Zero Hash25 buyers →Circle21 buyers →Bridge16 buyers →BVNK13 buyers →Tempo13 buyers →Fireblocks12 buyers →MoonPay10 buyers →Lightspark9 buyers →
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Ranked #21 of 57 in Crypto / Stablecoin — Embedded Finance Index 2026
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Banxa — frequently asked

Which companies use Banxa?

3 companies are linked to Banxa in the Embedded Finance Index 2026, through their own public disclosures or Banxa's published customer list, including ZenGo, Changelly and Ton Foundation.

What does Banxa do?

Banxa is an embedded-finance provider in PSP and Crypto / Stablecoin. It ranks #21 of 57 Crypto / Stablecoin providers by linked companies.

What are the alternatives to Banxa?

The most-named Crypto / Stablecoin alternatives to Banxa are Zero Hash (25 buyers), Circle (21 buyers), Bridge (16 buyers), BVNK (13 buyers), Tempo (13 buyers) and Fireblocks (12 buyers).

Who founded Banxa?

Banxa was founded by Domenic Carosa and is founded in 2014, headquartered in Toronto, Ontario, Canada.

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