Vancouver, British Columbia--(Newsfile Corp. - January 4, 2021) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NCCTF) ("NetCents" or the "Company"), a cryptocurrency payments company, is pleased to announce that it will begin to offer interest bearing crypto accounts on its platform.
NetCents management believes that interest bearing accounts is a natural extension of the products that should be available to individuals participating in the crypto economy. NetCents believes that it is uniquely positioned within the Cryptocurrency industry to begin offering a wider selection of financial products to its user base. NetCents has been a leader in providing Cryptocurrency technologies for payments and intends to maintain its leadership by being at the forefront of the industry as market participants move to replicate the products of the legacy financial services industry. NetCents' hallmark is embracing new ideas and combining best-in-breed technologies with a user interface that is easily understood.
"The pandemic has really demonstrated how there are 80 million households that are unbanked in North America, and that the current financial system isn't focused providing solutions to masses, they are maximizing revenue by focusing on the rich. Paying interest on deposits is something that lean companies like NetCents is well suited to offer," stated Clayton Moore.
This is a natural evolution of the financial products that are being created in the cryptocurrency industry. NetCents has pioneered into transaction and payment technology before others followed, and will now blaze a path facilitating transactions as well as interest bearing accounts for its merchants and wallet holders.
The Company sees a massive opportunity in facilitating these types of transactions based on the experience of its merchant base which is now choosing to receive a higher percentage of its receipts in cryptocurrency. Furthermore, individual investors are interested in earning interest on their assets if "staked" over time when compared to traditional banking products paying minimal interest or negative interest rates which are common in Europe.
"NetCents intends to facilitate these kinds of transactions but add a layer of redundancy and security that will give investors more comfort in the security of their assets. As Crypto matures - more "bank-like" features and stability will be essential to its ultimate success," stated Clayton Moore, NetCents CEO.
The Company is in discussions with numerous partners that would assist in providing these services and will announce individual agreements with partners as they become finalized. NetCents intends to offer these products only after the Company has received guidance and clearance from regulators and advisors that the products are compliant.
"This new product will be the first corporate development that will take full advantage of the Advisory Board we have formed - the team has decades of experience in managing banks and financial products, including experience at UBS and Goldman Sachs. Our Advisory Board has experience across North America, Europe and Asia. We are qualified to develop a solution that will be compliant across the global financial services framework," stated Mr. Moore.
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
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On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 - 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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