CORRECTION: Banxa announces $169 million January Transaction Volume - up 207% Year-on-Year

This press release corrects and replaces the earlier press release with updated year over year growth percentages.

Highlights:

• January 2022 Total Transaction Volume (TTV) of AUD $169m (USD $121m) up 207% Year-on-Year
• Signed 5 new partners in January, including Ethereum zkRollup layer 2 protocol LoopRing
• Added 12 new fiat currencies in January

Banxa Holdings Inc. (TSXV BNXA)(OTCQX:BNXAF) (FSE:AC00) ("Banxa" or "The Company"), the world's first listed payment service provider (PSP) and RegTech platform for the digital assets industry, has today announced its January 2022 TTV, recording AUD $169.3 million (USD $121.4m) which is in line with the general market trends

In January, Banxa processed over 210,000 transactions and added five new partners, including Coinex, Loopring and Safeswap. Banxa also added 14 new fiat currencies in January alone, enabling seamless access to digital currencies through multiple payment methods,

Banxa CEO Holger Arians said, "The crypto ecosystem is accelerating at lightning speed, and we're excited to tap into this growth in 2022. Working with an expanding number of partners in the market, we're focused on innovation and driving success through our infrastructure, rigid compliance protocols, local payments, and additional fiat currencies.

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ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

Banxa Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00)

Banxa powers the world's largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa's mission and vision are 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.

For Further Information, see www.banxa.com

CONTACTS:

Investor Relations:
Email: Investor@banxa.com
Brian M. Prenoveau, CFA
MZ North America
561-489-5315
BNXA@mzgroup.us

Media Contacts:
Dave Malcolm, Chief Marketing Officer / IR
Email: dave.malcolm@banxa.com
Michelle Boland, PR Group
Email: michelleb@prgroup.com.au

SOURCE: Banxa Holdings Inc.