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Potential to Support $1.4 Billion in Order Flow
Vancouver, British Columbia--(Newsfile Corp. - June 19, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a disruptive cryptocurrency payments technologies company, is pleased to announce that NetCents has received an institutional credit facility totaling 1.4 billion USD to power merchant settlements.
NetCents negotiated this facility to increase the potential of Cryptocurrency as a means of exchange. To date, the major obstacle has been volatility. Merchants and Consumers alike are reluctant to hold crypto positions because of the fluctuation of most currencies.
This breakthrough financing - will provide NetCents the capacity to eliminate volatility risk for all of its merchants. Furthermore, this financing structure will help many crypto exchanges by creating a deeper market for mainstream cryptocurrencies.
NetCents has partnered with a handful of forward-thinking institutions to use its merchant order flow as a supply for a short-term crypto portfolio. The credit line will enable NetCents to have money in the market over an extended period, and be able to profit from arbitrage opportunities. The profits from this arbitrage will ultimately allow NetCents to reduce fees to its client base.
"This is a huge win-win-win," stated Clayton Moore, Founder and CEO of NetCents Technology. "Merchants benefit because this facility and trading program will reduce our operating costs, which will enable us to charge smaller fees to our merchants in the future. NetCents will benefit as it has a new revenue stream to support operations - these trading strategies we can deploy are highly profitable. The exchanges benefit as well due to the increased capital deployed in the market, which means that over time, volatility will decline, creating an environment allowing mainstream participants to adopt crypto as a means of exchange and not purely speculation."
This institutional credit line, totaling 1.4 billion USD annually, provides NetCents the merchant settlement capital to further expand and offer speedier merchant payouts. Benefits include:
Ability to front-load merchant settlements
Removing all limitations when providing merchant payouts
Eliminates merchant and partner concerns regarding NetCents' ability to handle significant order flow
Removes all obstacles for unlimited processing and all risk associated for merchant payouts
Facilitates continued merchant growth
Largest known credit line granted to a cryptocurrency payments company
"This goes to show the support cryptocurrency is receiving at the institutional level and how quickly cryptocurrency payments are becoming a reality to traditional financial institutions," added Mr. Moore. "Crypto is becoming an asset class that traditional asset managers are becoming interested in - and that trend means that the entire asset class's value is destined to increase."
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58175