Blockchain
NetCents Technology Enters Partnership with XTM INC.
Powering Point of Sale Crypto Transactions
Vancouver, British Columbia–(Newsfile Corp. – August 17, 2020) – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments technologies company, is pleased to announce that it has entered into a partnership with XTM, Inc. (CSE: PAID) (FSE: 7XT) (“XTM“), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world, to enable cryptocurrency payments and loading of payment cards.
Through this partnership, NetCents will be supplying the underlying technology to power cryptocurrency transactions for XTM’s card programs enabling near real time loading of funds to XTM mobile wallets. Cryptocurrency account holders can redeem the amount needed to complete an online or card transaction.
Cash payments have been declining for a long time – but the decline has been accelerated with the recent push to contactless payments. Cash payments in Canada were 54% of transactions in 2009 and now they are less than 30%.
With cash continuing to decline as a method to transact, this partnership facilitates an additional method of transferring funds to any Todaytm mobile wallet.
“Our strategic partnership with NetCents demonstrates our continuance to extend the breadth and depth of the value we offer our user base,” said Marilyn Schaffer, CEO of XTM Inc. “With the upcoming launch of our closed loop community currency solution in California, adding cryptocurrency as a method of funding the wallet fits as an innovative digital load option in our quest to dominate a cashless ecosystem.”
This partnership marks the second NetCents collaboration that leverages the Company’s deep technology base. The first collaboration on technology has been NetCents work with VISA as part of their Fast Track technology incubator.
“The Company has a dual path strategy to be both vertically integrated as a consumer facing brand as well as to develop and deploy a suite of products that can be shared within a broad crypto based ecosystem,” stated Clayton Moore, CEO of NetCents. “This strategy will allow us to continue to embed ourselves into the mature traditional payments infrastructure, and we will grow organically as Crypto becomes a larger asset class and more of a transaction medium. Embedding our tech as a back end for many systems becomes a barrier to entry for other competitors while also driving revenues, and increasing transaction flow for our market-making and exchange operations,” he concluded.
Before the bankruptcy of WireCard, it was the heir apparent to dominate the Crypto Debit Card space according to Luke Fitzpatrick of Forbes1, “The Payments industry is in transition -The bankruptcy of WireCard, the European pre-paid card business is up for grabs – and has created massive market opportunity and dislocation, large players like VISA joining the Fray by partnering with us, small Crypto players seeking to align with NetCents in order to flourish and grow – all with a forceful tailwind caused by a rally in Cryptocurrency, and global users abandoning cash as a method of payment. I know that the NEXT 6 months will be the most interesting in the history of the Company and I look forward to sharing our achievements with you when they are ready to be unveiled,” enthused Clayton Moore in conclusion.
About XTM Inc.
XTM, www.xtminc.com is a Toronto-based fintech innovator in the challenger banking space helping business and workers alike expedite earnings payout and reduce or eliminate banking fees. We are a global card issuer and payment specialist providing free technology to business to automate and expedite worker payouts that can eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and debit card with free banking features. XTM drives enterprise value and creates a positive user experience.
About NetCents
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.
For more information, please visit the corporate website at www.net-cents.com or contact Investor Relations: [email protected].
To keep up on the latest – make sure to join the telegram channel http://t.me/NetCents
On Behalf of the Board of Directors
NetCents Technology Inc.
“Clayton Moore”
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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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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