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Banxa Becomes One of the First Retail On-Ramps Globally to Support USDC on Hedera Through the HBAR Foundation’s Assistance

Published By
Elaine Song
April 22, 2022

The HBAR Foundation is pleased to announce that Banxa, the global fiat on-ramp, has become one of the first companies to support USDC on Hedera. The HBAR Foundation’s support will enhance Hedera’s already booming Web3 environment by opening up the Hedera ecosystem’s access to Web2 users via a retail on-ramp. 

Banxa is the largest global fiat on-ramp for Web3, allowing customers from 135+ countries to purchase cryptocurrencies and NFTs using credit cards, bank transfers and cash. Banxa offers the most number of payment methods that give access to the largest customer base and provides the highest conversion rates to maximize access to web3 platforms.

Wallets, dApps and exchanges supporting Hedera can integrate Banxa’s widget into their platform to easily allow their users to onboard into the Hedera Web3 ecosystem by purchasing USDC or HBAR using one of Banxa’s supported fiat payment methods which include Visa, Mastercard, ApplePay, ACH, SEPA and more.

Banxa has partnered with Hedera on increased support for fiat payments globally. The company will continue to lead the way in expanding its geographic support for local banks and fiat currencies in some of the largest emerging economies in the world later in 2022. Through the HBAR Foundation's assistance, Banxa’s support of USDC on Hedera will facilitate further ease of use for Hedera consumers.

The HBAR Foundation has recently announced a $250 million Metaverse Fund and allocated $155 million for the Crypto Economy Fund. The Foundation is committed to a broader B2C and B2B adoption of the Web3 ecosystem. The collaboration with Banxa will attract more retail and institutional consumers to the Hedera Network due to secure, convenient, and fast transactions. Banxa’s payment infrastructure will also play an important role in the expansion of Hedera’s enterprise-first approach.

"The Web3 ecosystem is only in its infancy, with significant opportunities for businesses and individuals worldwide. Banxa is thrilled to be the first retail platform to support USDC on Hedera. Working with the leading enterprise-grade public ledger for the decentralized economy, we can continue to support the crypto ecosystem's expansion and the opportunities this brings," said Holger Arians, CEO of Banxa.

“We are excited for Banxa to enter the Hedera ecosystem to increase support for payment globally and onboard Web2 users into the Web3 ecosystem,” said Elaine Song, Director of Ecosystem at The HBAR Foundation. 

About the HBAR Foundation 

Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, Sustainability, gaming, and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development, and other operational functions that are required to scale.

To apply for a grant, please go to www.hbarfoundation.org/apply.

About Banxa

Banxa is the leading integrated web3 fiat on-ramp offering the most payment methods which provide the largest customer base and highest conversion. Banxa powers the leading web3 players allowing the easiest fiat to crypto, fiat to NFT and wallet integrations for end consumers. Banxa provides the digital asset infrastructure for partners across all ecosystem areas to bring everyone into web3 today and tomorrow.