NetCents Technology Provides Further Details of Credit Facility
Vancouver, British Columbia--(Newsfile Corp. - July 9, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a cryptocurrency payments technologies company, is pleased to provide further information regarding the institutional credit facility that it received totaling 1.4 billion USD to power merchant settlements.
NetCents has partnered with Bison Digital LLC, backed by BKCoin Capital LP, to use its merchant order flow as a supply for a short-term crypto portfolio. The credit facility will enable NetCents to have money in the market over an extended period and profit from arbitrage opportunities. The earnings from this arbitrage will ultimately allow NetCents to reduce fees to its client base.
"In the short time we've been working together, NetCents has quickly become our most strategic partner for cryptocurrency advisory," stated Kevin Kang, Founding Principal and Chief Investment Officer of BKCoin Capital. "We look forward to continuing to develop this relationship as its volume continues to grow rapidly, leveraging our depth and experience in managing and trading multi-asset portfolios to drive a new profit center for all parties."
BKCoin Capital is a digital assets quantitative hedge fund, dedicated to delivering consistent, uncorrelated absolute returns through Market Neutral - Long/Short, Arbitrage strategies. The team has over 45 years of wide-ranging experience on Wall Street, including managing and trading over $40 billion of multi-asset portfolios at several of most established financial institutions such as AllianceBernstein, Evercore ISI, JPMorgan, Merrill Lynch, and other hedge funds.
"As NetCents grows its already impressive merchant base, upcoming product offerings such as the NetCents Cryptocurrency Credit Card will drive growth in order flow that will supply the short-term crypto portfolio," stated Carlos Betancourt, Co-Founder and Managing Partner of Bison Digital. "We anticipate quickly outgrowing our $5 million daily credit facility and will look to expand."
Bison Digital is a FinTech company that provides a venue for exchanges, payment processors, and other corporations looking for liquidity in the cryptocurrency market. The firm aggregates liquidity from some of the world's biggest exchanges, OTC Desks, and other liquidity providers under a single API.
"I believe that our dedication to developing best in class solutions has facilitated the institutional relationships we are using to grow opportunities in the blockchain and crypto space. I look forward to scaling the business we have built through these strong partnerships," stated Clayton Moore, Founder and CEO of NetCents Technology.
Welcome to the future!
About BKCoin Capital LP
BKCoin Capital is a digital assets quantitative hedge fund, dedicated to delivering consistent, uncorrelated absolute returns through our Market Neutral - Long/Short, Arbitrage strategies. The firm also has a market-making desk that provides liquidity across major exchanges on over ten currency pairs.
Being one of the first key institutional investor in the digital asset class, the team has over 45 years of wide-ranging experience on Wall Street including managing and trading over $40 billions of multi-asset portfolios at several of most established financial institutions such as AllianceBernstein, Evercore ISI, JPMorgan, Merrill Lynch, and other hedge funds.
About Bison Digital LLC
Bison Digital is a FinTech company that provides a venue for exchanges, payment processors, and other corporations that are looking for liquidity in the cryptocurrency market. The firm aggregates liquidity from some of the world's biggest exchanges, OTC Desks, and other liquidity providers under a single API. Bison's clients enjoy the ease of using our single API to connect to the multiple liquidity providers for best execution.
Bison's unique set of capabilities and services are designed to drive down the cost of transactions and meet the liquidity needs of corporations that are new to digital assets. Clients count on the market insight of experienced Institutional Traders to help access liquidity, maintain anonymity, and minimize market impact. The team of Institutional Traders delivers high-quality execution services, leveraging a deep understanding of the markets, and customized trading technology designed to interact with Bison's institutional liquidity efficiently.
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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