BANXA Announces Financial Update for Fiscal Year ended June 2021

Highlights (unaudited):

• $687 million AUD Total Transaction Value (TTV) for the Fiscal Year ended 30th June - up 755% year on year
• Expected Revenue in the range of $42 to $45 million AUD for the Fiscal Year ended 30th June - up over 500% year on year
• $24 million in AUD cash and cash equivalents
• Expected Adjusted EBITDA year-end loss of circa $1million for the full fiscal year, excluding one off & public company listing cost
• July TTV of $59 million which is generally in line with the overall softer trading volumes in the sector - an increase on the prior month
• Growth of B2B customers, from 48 to 66 since Jan 2021 with the goal of 2x current numbers by the end of the financial year
• Continued expansion of regulatory footprint. Banxa now holds cryptocurrency compliance and regulation licences/registrations in Canada , Australia , Netherlands , Lithuania and via a partnership in the USA

Banxa Holdings Inc (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("BANXA" or "The Company") Banxa, the world's first listed payment service provider (PSP) for the digital asset industry is pleased to announce 30th June 2021 Fiscal Year unaudited year-end revenues of between $42 to $45 million over 500% increase year on year.

Adjusted EBITDA year-end loss of circa $1million for the full year, excluding one-off and public company listing cost. July TTV of $59 million , up from the prior month and in line with the overall softer trading volumes in the sector. As of June 30th, 2021 , the company had $24 million in cash and cash equivalents on the balance sheet. The company anticipates releasing 30th June 2021 audited accounts by late October.

Domenic Carosa , Founder and Chairman of BANXA said "As more people transition from the existing fiat world (e.g. USD/EUR/CAD) to the digital asset world (e.g. Bitcoin/Ethereum); the requirement for compliant payment infrastructure becomes increasingly more important. Banxa addresses this head on with the provision of both global and local payment methods for our customers.

Furthermore, as the industry becomes increasingly regulated, Banxa is leading the charge with its RegTech offering that provides regulated and compliant payments to the industry. We will continue to acquire more licences for cryptocurrency payments, exchange and custodial services around the world therefore building a defensible 'moat' around our business model.

Banxa continues its goal of building a safe and regulatory compliant payment infrastructure to help global users securely convert their fiat currency into digital currency and vice versa."

The Banxa Board is very comfortable with the current cash position to fund the current business model. Maintaining a long-term vision and growth strategy, the Company lodged a Base Shelf Prospectus on August 7, 2021 . A Base Shelf Prospectus provides greater flexibility, certainty and lowers the cost for any required capital raising in the next 2 years.

The latest Company investor deck can be found:

https://bit.ly/BNXA-Preso-17Aug21

A recent interview by Ian Hunter from Hunter Value Capital can be viewed on YouTube:

https://bit.ly/BNXA-Hunter-interview-Aug2021

Banxa Holdings Inc. (TSX-V:BNXA/OTCQX:BNXAF/FSE:AC00) is a Payment Service Provider (PSP) that powers the world's largest cryptocurrency companies. Banxa's mission is to build the bridge that provides 7+ billion people 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

SOURCE Banxa Holding Inc

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