The following is a summary of the Banxa Holdings Inc. (BNXAF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Banxa Holdings achieved profitability in Q3 2024 with the total transaction value growing by 61%, and gross profit increasing by 56%, showing scalability of its operations.

• The net take rate has improved and adjusted EBITDA is expected to land between a loss of $0.1 million and a gain of $0.9 million.

Business Progress:

• Banxa has expanded in the US and EU markets by obtaining required licenses and integrated with new partners including Trust Wallet, Uniswap, Argent, BitPay, and Telegram Wallet.

• The company is focusing on the growing market of on-chain activity, DeFi and stablecoins and is preparing for an increased demand for embedded solutions from next-generation internet applications.

• Banxa plans to cater to businesses wanting to incorporate crypto operations without handling themselves, planning to become the go-to crypto platform.

• They are improving internal operations with cost control, increased accountability, better partner relations, and reducing the high cost of capital, supported by employee share purchasing plans.

• Banxa sees significant revenue potential in gaming, social networks and plans to activate Non-Teller Locations (NTLs) in over 45 states by the end of the year.

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