VANCOUVER, Aug. 20, 2018 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC) (Frankfurt: 26N). NetCents Technology has entered into an agreement with the NEM.io Foundation that will see NEM's cryptocurrency, XEM, integrated into the NetCents ecosystem.
The first phase of the integration, into the NC Exchange, is now live. NetCents users are able to deposit, withdraw, and trade XEM for fiat and cryptocurrencies supported by the NC Exchange with other NC Exchange users.
The Company is currently working on phase two of the XEM integration. Phase two will see XEM integrated into the NetCents Merchant Gateway and Instant Settlement program. Once the integration is completed, NetCents users and holders of XEM in external wallets will be able to use XEM to make payments to merchants who use the NetCents merchant gateway and accept XEM.
Through the agreement, the Company will gain access to companies and merchants powered by and working with XEM. Additionally, NetCents will be able to integrate other NEM-based coins, like Xarcade, into the NetCents ecosystem.
NEM's cryptocurrency XEM, recognized as one of the top 10 cryptocurrencies by market capitalization, will be fully integrated into the NetCents ecosystem. NEM has a $1 Billion USD market cap and supports 11 million trades daily, with 9 billion XEM currently in circulation.
XEM is not a Proof of Work based cryptocurrency, like Bitcoin, but a Proof of Importance system that is not reliant on supercomputing to perform mining, allowing for lower transaction fees and faster transactions. This will allow customers to purchase from NetCents merchants at a lower transaction fee charged by the blockchain when using external cryptocurrency wallets.
About the NEM Foundation
The NEM Foundation is endorsed by an international network, compiled of a wealth of experience in IT, entrepreneurship, business processes, trading, property and asset development, international management and academia. The business' ethos is to provide NEM's blockchain technology platform to enhance enterprise whilst being run by the people, for the people. NEM's team provides this through an array of support and education, from training events and service providers to technical support for the ecosystem
Their unique leadership approach sets a clear, rigorous course for an ever evolving influence growing in every business and region, at every level. As a result, their leadership team reflects a group of internationally diverse individuals with breadth and depth of experience across the foundation.
NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry-free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online.
NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way. ™
On Behalf of the Board of Directors NetCents Technology Inc.
"Clayton Moore" Clayton Moore, CEO, Founder and Director
NetCents Technology Inc. Suite 880, 505 Burrard St (Bentall 1), Vancouver, BC, V7X 1M4
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.
SOURCE NetCents Technology Inc.
For further information: please visit the corporate website at www.net-cents.com or contact Gord Jessop, President: [email protected]