NetCents Technology, a Canada-based online payments processing platform, has introduced NetCents cryptocurrency exchange (NC Exchange) for NetCents coin.
NC Exchange is powered by blockchain technology and handles all payments, settlements and tracking distribution metrics for the NetCents coin.
It provides a liquid environment, which allows the firm’s merchant partners and users to realise instantaneous reconciliations in an efficient way.
The cryptocurrency exchange will act as a separate entity apart from NetCents and is independent from NetCents Technology, but within its ecosystem.
NetCents CEO Clayton Moore said: “The Trust Corporation was established as a non-profit trust to manage the release mechanism of the coin and to give users and merchants the comfort and confidence knowing they are transacting with a digital currency of value.
“Our research has shown that users and merchants want to use crypto but their biggest challenge is the volatility and lack of currency backing.The coin will allow NetCents to access markets and opportunities not previously available to traditional processors.
“The coin will increase the company’s revenue streams through the growth of user fees, transaction fees, merchant’s fees and remittance fees that will all flow into NetCents. It is our goal to become a major player in this space and to be the underlying technology that connects traditional processors to banks and exchanges allowing users the simplicity of transacting anywhere in the world.”