Banxa Review (October 2026): Fees, US States and Licenses

Best for: Licensed embedded on-ramp

5.3/10

US access 20%9.8
Regulation 20%4.0
Security record 15%6.0
Cost 15%5.0
Range 10%4.0
Popularity 15%1.0
Data quality 5%7.0

By Vahe Hakobyan Verified October 5, 2026 Medium confidence No affiliate links

Taker fee— Not verified
US states49 of 51
New YorkNo
Coins— Not verified
Custody— Not verified
App Store— Not verified

Our verdict

Banxa is a fiat-to-crypto on-ramp used inside wallets and exchanges. Its US entity, BNXA USA MTL Inc., is registered with FinCEN as a money services business (NMLS ID 2347615) and lists state money transmitter licenses; New York does not appear and Virginia is shown as pending. US orders can be paid by ACH, card or wire, with some processed by partner firms.

Pros

FinCEN MSB registration, NMLS ID 2347615
State money transmitter licenses published on one page
ACH, card and wire payment options

Cons

New York not on the license list
Fee schedule not published in the terms
Some orders processed by third-party partners

Banxa fees

Maker / taker: — Not verified
Simple buy: Spread typically 2-4% (up to 15%) plus 1.99% card/Apple Pay fee and network fee
ACH deposit: — Not verified
Wire deposit: — Not verified
Card purchase: — Not verified
USD withdrawal: — Not verified
Crypto withdrawal: — Not verified
Minimum deposit: — Not verified

Is Banxa available in my state?

Banxa's USA licenses page (Oct 2026) shows BNXA USA MTL Inc. with a FinCEN MSB registration and state money transmitter licenses; New York is not listed and Virginia is shown as application pending.

AL available
AK available
AZ available
AR available
CA available
CO available
CT available
DE available
DC available
FL available
GA available
HI available
ID available
IL available
IN available
IA available
KS available
KY available
LA not available
ME available
MD available
MA available
MI available
MN available
MS available
MO available
MT available
NE available
NV available
NH available
NJ available
NM available
NY not available
NC available
ND available
OH available
OK available
OR available
PA available
RI available
SC available
SD available
TN available
TX available
UT available
VT available
VA available
WA available
WV available
WI available
WY available

Official list of supported states (modified Sept 14) names 48 states; Louisiana, New York and DC are not on it

New York: No
ID check (KYC): — Not verified
Withdraw crypto: — Not verified
Funding: ACH, Debit card, Credit card, Wire

Is Banxa regulated?

FinCEN MSB
NMLS 2347615

US operator: BNXA USA MTL Inc.
Parent company: Banxa Holdings Inc.
State licenses: State money transmitter licenses listed (e.g. AL 968, AZ 1041914, FL FT230000448, IL MT0000451, NV MT11226); Virginia pending; FinCEN MSB no. 31000255987782
New York license: — Not verified
Other: EU Internet Ventures authorized as a MiCA crypto-asset service provider (AFM, Netherlands)
Founded: — Not verified
Headquarters: — Not verified

How secure is Banxa?

Proof of reserves: — Not verified
Audits: — Not verified
Insurance: — Not verified

Crypto held on a platform is not covered by FDIC or SIPC insurance.

Banxa FAQ

Is Banxa available in my state?

Banxa serves 49 of 51 jurisdictions (50 states and DC). Not available in Louisiana, New York.

Can New York residents use Banxa?

No. Banxa does not accept New York residents.

What are Banxa's fees?

Simple buy: Spread typically 2-4% (up to 15%) plus 1.99% card/Apple Pay fee and network fee.

Is Banxa regulated in the US?

US customers are served by BNXA USA MTL Inc.. Registrations and licenses on record: FinCEN MSB, NMLS 2347615.

Alternatives to Banxa

Not financial advice. Crypto prices are volatile and you can lose everything you put in. World-Crypt earns nothing from the platforms reviewed here.