Baanx, a London based company that offers payment options including conventional credit cards and cryptocurrency has raised $20 million in Series A funding round.
Ledger, Tezos, Chiron, and British Business Bank were among the backers.
The company plans to utilize the money it has raised—more than $30 million in total—to grow its operations, access new markets, and continue its development work.
Baanx is a B2B2C service provider for digital asset-friendly financial services, including digital wallets, IBANs/DDA Accounts, borrowing/lending, remittance/FX, payment gateways, and physical and virtual debit cards.
The company is led by CEO Garth Howat.
Additionally, the business bridges the gap between Web3 technology and the Financial Services industry by providing user communities with white label, fully managed applications that aid in the widespread adoption of blockchain technology, digital assets, and cryptocurrencies.