Blockchain
NetCents Technology Increases Its Credit Facility to US$2 Billion
Vancouver, British Columbia–(Newsfile Corp. – October 30, 2020) – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments company, is pleased to announce that it has increased its credit facility from USD$1.4 Billion to USD$2 Billion.
The Company has made this move to facilitate the following efforts:
- Continued merchant growth
- Credit card launch
- White Label Projects
NetCents is preparing for rapid growth in the cryptocurrency space specifically B2B payments – its transaction volume is rising – and user adoption is growing rapidly. “We think we are at that inflection point. Bitcoin is coming out of the shadows and moving again into the spotlight, unfortunately many missed the 300% run from the bottom,” stated Clayton Moore, CEO of NetCents. “I do think it is ironic that JP Morgan – whose CEO derided Bitcoin as a fraud in 2017, has published research indicating millennials prefer Bitcoin to Gold as a store of value and inflation hedge ‘The older cohorts prefer gold, while the younger cohorts prefer Bitcoin as an ‘alternative’ currency’ they said.1“
“Our education process continues to win over clients,” enthused Mr. Moore. “Clients are becoming exceedingly more comfortable with our products as we demonstrate security protocols and how the Bitcoin and other coins that potential clients receive are actually screened and vetted before we allow them on the platform, we increased the credit line because we need to increase our capabilities to meet growing demand,” concluded Mr. Moore.
According to Matt Harris of Bain Capital, the growth of technology companies that focus on B2B payments will continue through 2021. He alluded to the fact that while B2C was much more mature, there was a lot of room for B2B providers to grab market share.2
The Original Credit Facility Announced June 19: https://news.net-cents.com/2020/06/19/netcents-technology-negotiates-industry-leading-credit-facility/.
Additional Info Announced June 26: https://news.net-cents.com/2020/06/26/netcents-technology-provides-further-details-of-credit-facility/.
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 enables 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.
The Credit line allows NetCents the capacity to eliminate volatility risk for all of its merchants. Furthermore, this financing structure will help many cryptocurrency exchanges by creating a deeper market for mainstream cryptocurrencies.
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.
____________________
1 https://fortune.com/2020/10/26/jp-morgan-chase-bitcoin-predictions-analyst-jpm-cryptocurrency/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67130
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Blockchain
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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