TORONTO and MELBOURNE, Australia, March 13, 2024 /CNW/ - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa'' or the "Company") is pleased to announce the appointment of new independent non-executive director, Kaushik Sthankiya, Global Head of Banking & Payments at Kraken Digital Asset Exchange, to the Board of Directors effective March 13, 2024.

Kaushik Sthankiya, said: "I am honoured to be joining the Board of Directors of Banxa. Banxa plays a critical role in accelerating the adoption of digital assets through its vast global infrastructure, enabling frictionless transactions that are safe and compliant. I am excited to leverage my experience to help Banxa empower businesses to take control of their crypto journey worldwide. I look forward to collaborating with my fellow Board members, the executive team and wider stakeholders as we work towards achieving Banxa's mission."

Mr Leigh Travers has decided to step down from the Board, effective March 13, 2024, to pursue other opportunities. The Board thanks Leigh Travers for his contributions and wishes him success in his future endeavors.

Kaushik Sthankiya is the Global Head of Banking & Payments at Kraken Digital Asset Exchange. Kaushik is part of Kraken's senior leadership team, leading & managing all partnerships with global banks & payment partners. A seasoned C-suite executive with 24+ years experience across banking, payments, financial services, fintech, telecommunications, mobile commerce and digital asset/web3 industries across North America, Latin America, UK, EMEA & Asia Pacific. He also serves as a Board of Director and Advisor to a number of digital asset and payments companies.

Kaushik has held a variety of senior roles at Visa, Mastercard and as the Chief Commercial Officer at payments and remittance fintech start-up - successfully scaling and commercializing digital/mobile payment solutions for consumers, merchants, app developers, tech giants (Amazon, Google, Microsoft, Netflix, Samsung), institutional clients and mobile network operators worldwide.

Banxa is the leading infrastructure provider for enabling embedded crypto - empowering businesses to take control of their crypto journey. Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is building for a world where global commerce is run on digital assets. For further information visit www.banxa.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Per: "Zafer Qureshi"
Zafer Qureshi = Executive Director and Head, Corporate Affairs, +1-888-332-2692

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.