Business

Forming a New Corporation

Published

6 years ago

June 3, 2020

Matthew Wiles

How Do I Form a New Corporation?

The First Step

It is a big step to decide to start your own corporation. It can be a lot to think about. You don’t want anything to slip through the cracks or be an afterthought, but where do you start? There is so much to plan and think about. Here is a simplified guide to through your first steps in getting your corporation approved and off the ground.

TRUiC CEO Nagabhushanam “Bobby” Peddi says the company has helped more than 250 000 people who face difficult decisions by providing simple and useful information. Their site that is full of free guides, recently passed the 1M traffic mark as America is getting back to work and business.

First things first, what is the name of your corporation? There are some rules on naming Corporations you’ll want to be mindful of. For example, you can’t use anything banking related (Bank, Trust, etc) unless you get approval ahead of time. You also can’t use anything that would confuse with government agencies (Treasury, State Department, Etc.) You’re going to want to try to find something unique that communicates the type of business you are aiming for. The website TRUiC (The Really Useful Information Company) has a name generator to help if you are stuck. Be Sure to visit their site https://startupsavant.com/how-to-form-a-corporation. This will also help you make sure a domain name is available for your website coinciding with the name of your business. If you want to operate under a name different from the company’s legal name, you’d have to set up a DBA (Doing Business As) as well.

You’ll also want to think about taxes and find some information on this. You may refer to an accountant for guidance as there are different rules for corporations regarding taxes and even tax breaks you can get. You’ll need someone on hand that can help with your tax questions and prepare you for what you’ll need to handle. This will affect your bottom line, so this may be something to think about when in the planning stages of your business. This plays a role in your company the same way operating cost does.

Finding an Agent

Once you’ve got all that sorted out, you’ll want to connect with a Registered Agent. This person will guide you through processes to get your business going and assist you in working with the government to meet all the requirements to start your corporation. Some people even hire a service to do this work for them instead of an individual as this at times has its own perks. These agents will communicate with the government on your behalf and help make sure all your documents are in compliance with government standards. If they need to, they’ll get in touch with you for revisions and clarification to make the process go smoothly. This may add some time to your process, but ensuring the documentation and planning is correct will help in the long run. Michael Stemley, accountant and author says that “most of my clients who are HNWI’s prefer to use an agent – it just makes more sense to them, because it is about convenience and protection”.

Directors and Shareholders

As The next thing you’re going to want to do is start looking for your initial directors and shareholders. Corporations are run by a combination of management and shareholders who decide what moves the company makes and how. Until you have your shareholders in place, you can select an initial director to help select and review bylaws and more. After the shareholders are in place, a meeting will be called to create formation documents. At this meeting directors will be appointed. After the meeting, the formation documents will be filed with the state. This process could take some time so it is ok to start thinking about the next steps and working toward your goals while you wait. Once these documents are approved, you’ll officially have a corporation and can then file for an EIN number. The EIN number is important to work with your company’s taxes and so you can begin hiring employees. This number will be on your tax paperwork and your employees w2 forms. You’ll need to set up a company bank account with this to do your banking from such as paying taxes.

What’s Next?

One business owner Marco Antonio Henriquez Moreno who succeeded in establishing a huge fashion brand “Marcoahz”, says that “Once you started a business, there will always be lots of ongoing changes that require specialist advice. Things you could not have imagined during the planning phase. So planning is continuous and dynamic. My preference is always to ask an expert and get things done right”.

So it is fair to say: now that you’ve made a start – you’ve gotten your corporation started and have to do the rest of the work. This is where you’ll start implementing policies and procedures, looking for staff, and really putting your business together. You’ll need to start working on how to smoothly run your corporation. You’ll start working on rules and policies, roles of directors and management, how records are kept, how disputes are handled, how bylaws will be added. There are still so many things to think about now that your corporation has been approved. The shareholders will assist in selecting directors and creating bylaws, roles, and more. A lot of times bouncing ideas and thoughts between others invested in your company can be helpful. Everyone is there to create a successful business one way or another. Before you know, you’ll be working on more exciting things like social media policies, and planning all your future expansion.

Business

Inside the $4.3B Quarter: What’s Fueling Black Banx’s Record Revenues

Published

4 days ago

January 16, 2026

Matthew Wiles

Every quarter brings fresh headlines in fintech, but few make the kind of impact achieved by Black Banx in Q2 2025. The Toronto-based global digital banking group, founded by Michael Gastauer, reported an extraordinary USD 4.3 billion in revenue and a record USD 1.6 billion in pre-tax profit, while improving its cost-to-income ratio to 63%.

These results not only highlight the company’s operational efficiency but also mark a pivotal moment in its journey from challenger to global leader. The big question is: what’s fueling such impressive financial performance?

Customer Growth as the Core Driver

One of the clearest engines of revenue growth is Black Banx’s expanding customer base. By Q2 2025, the platform had reached 84 million clients worldwide, up from 69 million at the end of 2024. This 15 million net gain in six months demonstrates both the attractiveness of its services and the scalability of its model.

Unlike traditional banks, which rely heavily on branch expansion, Black Banx leverages digital-first onboarding that allows customers to open accounts within minutes using just a smartphone. This approach is especially effective in regions underserved by legacy institutions, where access to affordable financial tools is in high demand.

More customers don’t just mean higher transaction volumes—they generate a compounding effect where network size, brand trust, and service adoption reinforce one another.

Real-Time Payments and Cross-Border Solutions

A major contributor to Q2 revenues is the platform’s real-time payments infrastructure. Black Banx enables instant cross-border transfers across its 28 supported fiat currencies and multiple cryptocurrencies, helping both individuals and businesses bypass the traditional bottlenecks of international banking.

For freelancers, SMEs, and multinational clients, this means faster liquidity, reduced foreign exchange costs, and simplified global operations. The demand for real-time financial services is growing rapidly—Juniper Research projects global real-time payments turnover to hit USD 58 trillion by 2028—and Black Banx is strategically positioned to capture a significant share of this market.

Crypto Integration as a Revenue Stream

Another key revenue driver is crypto integration. While many traditional institutions remain hesitant, Black Banx embraced digital assets early and has built infrastructure to support Bitcoin, Ethereum, and the Lightning Network. In Q2 2025, 20% of all transactions on the platform were crypto-based, reflecting strong customer appetite for hybrid banking services that bridge fiat and digital assets.

Revenue comes not only from transaction fees but also from value-added services like crypto-to-fiat conversion, staking yields (4–12% APY), and blockchain-enabled payments. For customers in markets with unstable currencies, these services act as a financial lifeline, further expanding the platform’s relevance.

AI-Powered Efficiency and Risk Management

Record revenues would be less impressive if costs ballooned at the same rate. But Black Banx has proven adept at balancing growth with efficiency. Its cost-to-income ratio improved to 63% in Q2, down from 69% a year earlier, thanks to heavy reliance on AI-powered automation.

AI now drives fraud detection, compliance, and customer onboarding—areas where traditional banks often struggle with cost inefficiencies. By automating these processes, Black Banx can process millions of transactions securely while maintaining profitability at scale. This level of efficiency is rare in fintech, where high growth often comes at the expense of margins.

Regional Expansion and Untapped Markets

Geography also plays a role in fueling revenues. Much of the Q2 growth came from Africa, South Asia, and Latin America—regions where demand for mobile-first banking continues to soar. In 2024 alone, Black Banx reported a 32% increase in SME clients from the Middle East and Africa, signaling the strength of its positioning in underserved markets.

By extending services to populations previously excluded from formal banking—migrant workers, rural communities, and small businesses—Black Banx taps into vast pools of latent demand. The strategy proves that financial inclusion and profitability are not mutually exclusive but mutually reinforcing.

Diversified Revenue Streams

Another factor behind Q2’s record revenues is Black Banx’s diversified business model. Income is not tied to a single service but spread across multiple streams, including:

Transaction fees from cross-border transfers and payments.
Crypto trading and exchange services.
Premium account features for high-net-worth clients.
Corporate services for SMEs and international businesses.

This diversification insulates the company against volatility in any single segment, creating stable revenue growth even in shifting market conditions.

Michael Gastauer’s Strategic Blueprint

Behind these results is Michael Gastauer’s long-term strategy: scale aggressively but with efficiency, innovation, and inclusion at the core. His vision has always been to create a borderless financial ecosystem, and Q2 2025’s performance is evidence that this vision is not only achievable but sustainable.

By balancing mass-market accessibility with premium features, and by blending fiat with digital assets, Gastauer has positioned Black Banx as a category-defining player in global finance.

The Road Ahead: Toward 100 Million Clients

Looking forward, the company’s goal of reaching 100 million customers by the end of 2025 will likely be the next catalyst for revenue growth. More customers mean more transactions, more data insights, and more opportunities to refine and expand its service offering.

If current momentum holds, the USD 4.3 billion quarterly revenue milestone could be just the beginning of an even larger growth story. The challenge will be ensuring systems scale securely while maintaining trust in an environment where privacy and compliance are paramount.

A Record That Signals More to Come

Black Banx’s Q2 2025 performance—USD 4.3 billion in revenue, USD 1.6 billion in pre-tax profit, 84 million clients worldwide, and a lean 63% cost-to-income ratio—is more than a financial milestone. It is a signal of how the future of banking is being rewritten by platforms that are borderless, crypto-inclusive, and data-driven.

What fueled this record-breaking quarter is not one innovation but a combination of strategies—scalable onboarding, real-time payments, crypto integration, AI efficiency, and expansion into underserved regions. Together, they form a model that doesn’t just challenge traditional banking but actively builds the foundation for global dominance.

For Black Banx, the road ahead is clear: the $4.3 billion quarter is not an endpoint but a launchpad for even greater scale and profitability.