Banxa updates board and management to support next-stage growth
Banxa Holdings Inc. (TSXV: BNXA, OTCQX: BNXAF) has introduced a set of board and executive changes designed to accelerate growth and sharpen execution in embedded crypto. The moves signal a continued push to strengthen leadership and product delivery in a fast-moving market.
New Non-Executive Director joins the Board
Banxa has appointed Richard Wells as a Non-Executive Director, effective immediately. Wells brings broad, finance-led experience across multiple industries. His perspective will help guide Banxa as it builds out embedded crypto infrastructure for partners and customers.
Board transition
At the same time, Joshua (Jim) Landau will step down after more than eight years as a Non-Executive Director. Banxa thanks him for his steady governance and contribution to the company’s growth.
Management changes in the U.S.
Richard Mico, U.S. CEO and Head of Legal, Risk, and Compliance, has resigned and will support a smooth handover through December 31, 2024. Following the transition, Zafer Qureshi—currently an Executive Director and Co-CEO—will assume the role of U.S. CEO. Qureshi will concentrate on expanding Banxa’s U.S. presence, including the activation of Money Transmission Licenses.
Leadership commentary
Chairman and Co-CEO Holger Arians welcomed Richard Wells, noting his strong background and alignment with Banxa’s priorities. Arians also acknowledged Jim Landau’s long-standing contributions, which supported Banxa’s progress toward becoming a core infrastructure provider in the web3 ecosystem.
Sharpening focus: sale of Turkish entity
Banxa has sold its corporate entity in Turkey to focus on embedding crypto services in key markets: the U.S., Europe, the UK, Canada, and Australia. The sale generated approximately USD $219k, which will be used to reinforce operations.
About Richard J. Wells
Richard J. Wells serves as Chief Financial Officer at Waterton Global Resource Management, Inc., a private equity firm in the precious metals sector. He has held pivotal finance roles and supported companies listed on the TSXV—experience he now brings to Banxa’s Board.
About Banxa Holdings Inc.
Banxa operates in the embedded crypto space, helping businesses integrate crypto solutions into existing products and workflows. With a broad and evolving network of payment options and regulatory licenses, Banxa works to bridge crypto and fiat so partners can reach customers globally with less friction.
Frequently Asked Questions
What changed on Banxa’s Board?
Banxa appointed Richard Wells as a Non-Executive Director and announced that Joshua (Jim) Landau will step down after more than eight years of service.
How is the U.S. leadership changing, and what’s the timeline?
U.S. CEO and Head of Legal, Risk, and Compliance, Richard Mico, has resigned and will assist with the transition through December 31, 2024. After that handover, Executive Director and Co-CEO, Zafer Qureshi, will become U.S. CEO.
What will the new U.S. CEO focus on?
Zafer Qureshi will prioritize expanding Banxa’s footprint in the United States, with a focus on activating Money Transmission Licenses.
Why did Banxa sell its Turkish entity, and for how much?
The sale supports a tighter focus on core markets—the U.S., Europe, the UK, Canada, and Australia—and generated approximately USD $219k to bolster operations.
Who is Richard Wells?
Richard J. Wells is the CFO of Waterton Global Resource Management, Inc., a private equity firm in precious metals. He brings extensive finance experience, including work with TSXV-listed companies, to his new role as a Non-Executive Director at Banxa.
