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Baanx acquires shares in a major US fintech bank – press release Bitcoin News
Press release PRESS RELEASE. Baanx, the fast-growing B2B2C “Better than a Banking Platform” platform specializing in fintech services and lending, will become the third-largest shareholder in U.S.-regulated Maxwell State Bank in a multi-million dollar deal to improve cybersecurity and banking access to communities across America. Maxwell State Bank is a fintech bank and VISA Principal Member founded around 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000, Maxwell has been FDIC certified for insured deposits since 1943. Maxwell was acquired by serial fintech entrepreneur Ronald Ingram, the founder of billion-dollar fintech programs and companies. He has ambitious...
Baanx acquires shares in a major US fintech bank – press release Bitcoin News
Press release
PRESS RELEASE.Baanx, the fast-growing B2B2C “Better than a Banking Platform” platform specializing in fintech services and lending, will become the third-largest shareholder in U.S.-regulated Maxwell State Bank in a multi-million dollar deal to improve cybersecurity and banking access to communities across America.
Maxwell State Bank is a fintech bank and VISA Principal Member founded around 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000, Maxwell has been FDIC certified for insured deposits since 1943. Maxwell was acquired by serial fintech entrepreneur Ronald Ingram, the founder of billion-dollar fintech programs and companies. He has ambitious plans to make this bank the safest and most future-proof bank in America by expanding its services. He plans to achieve this by collaborating with leading fintech companies in cybersecurity, cryptography, tokenization and private/public infrastructure companies.
Baanx has quickly become a market leader in secure payment systems for transactions, secured lending and banking services with a focus on fast-growing industries. They offer VISA and Mastercard programs through their platform in combination with secured lending services starting from 0% APR and are expanding rapidly through their B2B2C business model. Baanx works with leading business communities, white-labeling as a leading brand while managing the delivery and support of the service for each community they engage with.
Garth Howat, CEO of Baanx, said today: “We are delighted to have taken an ownership stake in Maxwell and to partner with Ronald Ingram, who has a strong track record of delivering high-performance secure fintech services and has been responsible for hundreds of billions of dollars in fintech transactions over the past few years.”
Ronald Ingram, Chairman of Maxwell, said today: "We are very pleased to welcome Baanx as an investor in Maxwell State Bank. Maxwell Bank has been profitable and well-managed for decades. As of 2021, Maxwell is the most connected bank in North America with direct fiber and low-Earth laser satellite connectivity. We expect Baanx's commitment Maxwell will expand for the future of banking. Baanx is a money center fintech in the world's historic banking center, London, with specializations in cryptography, lending, cybersecurity and public/private key infrastructure. We look forward to strategic partnership opportunities such as state-of-the-art cybersecurity, access to digital asset custody and overall privacy that benefit us In our opinion, this strategic investment will develop.
About Banx
Banx “Better than a Banking Platform” offers banking services to fintechs, including secured lending against digital assets and integration of payment authorizations with VISA, Mastercard and other transactional payment systems. Baanx is headquartered in London (UK) with subsidiaries in Delaware (USA), Portugal and Lithuania. Baanx manages digital assets with military
Grade cryptography for maximum privacy and security with Digital Asset Insurance through their partners up to $100 million. Baanx is led by an experienced team with over a hundred years of combined experience in banking, financial technology, cryptography, finance and digital marketing.
About Maxwell
Maxwell State Bank has been serving Americans for nearly 75 years. In January 2021, it was acquired by Ronald Ingram, a serial entrepreneur in the fintech space, who has created a roadmap to secure the future of this established profitable bank for the next generations in the community, region and beyond.
Learn more about Maxwell State Bank
Find out more about Baanx
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