25th April 2024 — Primer, the unified infrastructure for global payments and commerce, today announced its strategic partnership with Banxa, a leading crypto infrastructure provider, to break down barriers to crypto adoption.
Banxa dominates the global market share in fiat-to-crypto on and off ramp solutions, supporting centralized and decentralized exchanges like Trust Wallet, Metamask and Bitcoin.com to drive participation in the crypto and web3 ecosystem.
The collaboration with Primer enables Banxa to consolidate payments services to gain unique insights while testing and optimizing performance. Leveraging Primer’s infrastructure, Banxa has access to new and backup payment services worldwide, introducing resiliency for recovering failed payments.
The announcement was made at Money2020 Asia, held this year in Bangkok, Thailand, in the heart of Southeast Asia, a region which has emerged as a global powerhouse in cryptocurrency adoption. According to the 2023 Global Crypto Adoption Index, Southeast Asia has the highest rate of cryptocurrency adoption globally with countries like Singapore, Malaysia, Thailand, Indonesia, the Philippines, and Vietnam experiencing a significant increase in cryptocurrency use and acceptance in recent years.
Banxa’s Head of Payments, Greg Rikkhachai, said of the partnership, “The results have been immediate and overwhelmingly positive, and our customers have taken notice as well. We can see the value this partnership is delivering through higher authorization rates, a wider choice of payment methods and the ability to optimize the cost of managing payments. Collaborating with Primer provides us with a comprehensive solution, flexibility for customization, and room for innovation.”
Kailash Madan, Head of Global Sales at Primer said, “In recent years, Asia Pacific has emerged as a dynamic hub for crypto and Web3 adoption. Banxa’s infrastructure has been a critical enabler of this growth, and we are honored they have chosen to partner with Primer to further enhance accessibility to crypto payments in the region. We're excited to innovate and contribute to a seamless and hyper-digital commerce landscape together.”
Primer and Banxa will continue to explore collaboration opportunities aimed at transforming global commerce, unlocking the full potential of digital assets to deliver enhanced value for businesses.
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Media contacts
For Primer:
Hui Hui Lin, +65 8298 8724
huihui.lin@baldwinboyle.com
Rebecca Smith, +65 8318 6275
rebecca.smith@baldwinboyle.com
For Banxa:
Zafer Qureshi,
Executive Director and Head, Corporate Affairs,
+1-888-332-2692
About Banxa
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
About Primer
Primer is the unified infrastructure for global payments and commerce. With unrivaled freedom and visibility across the payments and commerce ecosystem, Primer equips merchants with the tools to effortlessly optimize performance, build at pace, and capture untapped revenue to achieve unstoppable growth.
Operating in over 35 countries, Primer serves category leaders in retail & ecommerce, travel & mobility, ticketing, and fintech. It has raised over US$94M, backed by the likes of Tencent, Iconiq, Accel, Balderton, and RTP Global.
For more information, please visit https://primer.io/.
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