VANCOUVER, B.C., September 27, 2019 – NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) (Frankfurt: 26N) (“NetCents” or the “Company”). With the focus on expanding the processing volumes of cryptocurrency transactions, NetCents Technology set a new benchmark by forming relationships with additional liquidity sources.

To supplement already established cryptocurrency exchange networks and reduce the need for large floats to fund instant settlements, NetCents was relentless in dissecting the entire conversion and settlement process to reduce the counterparty risk of working with exchanges and significant capital requirements.

“Working with multiple institutional partners to provide managed funds allows us to process unlimited transactions with fewer capital restraints,” said Clayton Moore, Founder, and CEO of NetCents Technology. “We are now able to continue to scale our processing without the large floats that were previously required – it’s a game-changer.”

With competitors forced to limit a merchant’s ability to scale their cryptocurrency payments, many began looking for options.

“We have seen an increase in merchants abandoning their service providers to convert to our platform,”  added Mr. Moore. “By streamlining the entire process to the benefit of our merchants, we’ve also reduced our capital outlays and counterparty risk while substantially increasing our capacity.”

About NetCents

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) (Frankfurt: 26N), 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 at investor@net-cents.com

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. 

Please See Disclaimer

Bitcoin’s price tanked almost 15% on Tuesday evening to a low of $8,165 in what was just the second day since the launch of Bakkt.

The Intercontinental Exchange (ICE) launched its long-awaited Bitcoin futures trading platform on Monday, September 23 to considerable fanfare, and the entire world of crypto is even more curious to see just how much an impact it will have on the market. Just two days after the platform’s launch and the immediate effect has seen Bitcoin, and several altcoins, drop significantly. It’s similar to the movement seen directly after the launch of the Chicago Mercantile Exchange’s (CME) Bitcoin futures in December 2017, which saw Bitcoin drop from $19,000 to below $17,000 in one day.

Bakkt’s first-day volume was just 71 BTC, compared to CME’s which was 5,298 BTC, although it is worth noting that CME’s launch came right at the peak of Bitcoin mania. Some analysts are speculating that the disappointing opening of Bakkt is a signal to the crypto world that institutional investors are not as keen to get involved in crypto to the same scale as originally thought. The decline in Bitcoin is most likely a sign that the price was too high, and due for a correction.

>> BitFlyer Announces New Cryptocurrency Listings for Europe and America

Despite the dipping value of Bitcoin in recent days, many analysts are optimistic about how Bakkt can contribute to cryptocurrencies in their efforts to gain traction in the mainstream. Avivah Litan, vice-president of research firm Gartner, said, “Over time, this will legitimatize the cryptocurrency trading market which could potentially have a positive effect on [b]itcoin values, especially during a global economic slowdown and negative interest rate environment as investors and traders seek alternative instruments to equity and bonds.”

Litan concluded by highlighting that Bakkt is undoubtedly a positive step forward for gaining institutional trust and interest in Bitcoin, but it does translate to a guarantee of future success, for which only time will tell.

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