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Crypto-banking specialist announces German office

Saying that European institutions are more inclined to participate in the crypto markets Canada's NetCents Technology is forming a wholly-owned subsidiary in Germany to support its growing European business. It has also set up its first European banking relationship to support its rapidly growing European client base.

The Company has been encouraged with the growth of its core merchant base over the course of 2020. It has determined that a local presence is necessary to efficiently manage the large processing clients it has developed in the market. "We will be able to process and pay European merchants with the dedicated infrastructure we are putting in place more efficiently," stated Jenn Lowther, Chief Revenue Officer of NetCents Technology. "These moves will allow us to provide the daily payment capability for our merchants in Euros."

NetCents will be forming a subsidiary in support of the businesses that it intends to operate in the European market - these businesses include:

Merchant Processing
Invoicing for subscription-based businesses
Merchant services and Crypto-Banking Stack/Solution as a white-label offering for commercial banks

On March 3, 2020, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (the German Banking regulator) has released guidelines and definitions for financial institutions interested in Cryptocurrency products[1]. NetCents has a white-label solution; it can offer these commercial banks interested in allowing their client base to trade in cryptocurrency alongside traditional financial products.

"We have created a lot of momentum with our efforts to create business opportunities in the European market," stated Clayton Moore, Founder and CEO of NetCents Technology. "With the recent additions of additional European financial executives to our advisory board, we believe that we will only accelerate momentum from here. With a defined resource on the continent - it will make growth in Europe easier to manage. Our team will be multi-lingual, and this addition to our footprint will make it easier to pay merchants in Euro in a timely and efficient way."

 "A large part of our investor and business base is already in Europe, and the climate towards adoption is much more favorable across many business verticals in the European market. It only makes sense that we invest in initiatives that are already generating success for us as a Company. I look forward to growing our European business aggressively," concluded Mr. Moore.