NetCents Provides Information on $1.4B Institutional Credit Facility
- The crypto payments company received the credit facility to power merchant settlements.
Earlier today in Vancouver, cryptocurrency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term technology company NetCents Technology Inc. has provided further information on the $1.4 billion institutional credit facility that it received to power merchant settlements.
To secure the credit facility, NetCents partnered with Bison Digital LLC, backed by BKCoin Capital LP. Under the agreement, the payments technology company will use Bison Digital’s merchant order flow as a supply for a short-term crypto portfolio.
The $1.4 billion credit facility allows NetCents to have money in the market over an extended period and profit from arbitrage opportunities, the company said in its statement. The company will ultimately use the earnings made from this arbitrage to lower its fees.
Commenting on the partnership, Kevin Kang, Founding Principal and Chief Investment Officer of BKCoin Capital said in the statement: "In the short time we've been working together, NetCents has quickly become our most strategic partner for cryptocurrency advisory.
"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."
NetCents to continue scaling business
Bison Digital is a fintech company providing a venue for market participants trying to access liquidity in the cryptocurrency markets. In particular, the fintech aggregates liquidity 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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and crypto space. I look forward to scaling the business we have built through these strong partnerships," added Clayton Moore, Founder and CEO of NetCents Technology in the statement.
Today’s announcement follows on the heels of NetCents publishing its unaudited interim results. As Finance Magnates reported, revenue for the six months ended April 30, 2020, was $102,061 compared to $23,503 for the six months ended April 30, 2019.
Earlier today in Vancouver, cryptocurrency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term technology company NetCents Technology Inc. has provided further information on the $1.4 billion institutional credit facility that it received to power merchant settlements.
To secure the credit facility, NetCents partnered with Bison Digital LLC, backed by BKCoin Capital LP. Under the agreement, the payments technology company will use Bison Digital’s merchant order flow as a supply for a short-term crypto portfolio.
The $1.4 billion credit facility allows NetCents to have money in the market over an extended period and profit from arbitrage opportunities, the company said in its statement. The company will ultimately use the earnings made from this arbitrage to lower its fees.
Commenting on the partnership, Kevin Kang, Founding Principal and Chief Investment Officer of BKCoin Capital said in the statement: "In the short time we've been working together, NetCents has quickly become our most strategic partner for cryptocurrency advisory.
"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."
NetCents to continue scaling business
Bison Digital is a fintech company providing a venue for market participants trying to access liquidity in the cryptocurrency markets. In particular, the fintech aggregates liquidity 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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and crypto space. I look forward to scaling the business we have built through these strong partnerships," added Clayton Moore, Founder and CEO of NetCents Technology in the statement.
Today’s announcement follows on the heels of NetCents publishing its unaudited interim results. As Finance Magnates reported, revenue for the six months ended April 30, 2020, was $102,061 compared to $23,503 for the six months ended April 30, 2019.