Netcoins Provides Update on its Crypto Brokerage Services Business
June 11, 2018
VANCOUVER, British Columbia, June 12, 2018 (GLOBE NEWSWIRE) — GAR Limited. d/b/a/ Netcoins (“NETC” or the “Company“) (CSE:NETC) is pleased to provide further updates on its Retail, OTC and upcoming Dealer-Brokerage lines of businesses.
As the initial line of business and revenue stream for Netcoins, our distributed brokerage retail business continues to grow. Since January 2018, Netcoins has enabled:
- 19,000+ locations via Flexepin for acquiring Bitcoin in Canada, Australia, Greece, Romania and Cyprus,
- 2000+ locations via VoPay for acquiring Bitcoin in Canada, via Netcoins branded vouchers,
- 150+ new retail locations, in Canada, including a chain deal with Gateway Newstands, and
- White label partners, using the Netcoins software platform, to sell Bitcoin in the USA and UK.
Netcoins OTC (Over-The-Counter) business, also known as our private brokerage, continues to gain strength in the global market. Targeting cryptocurrency miners, institutional investors, crypto hedge fund operators, and high net worth individuals, the OTC business provides 3 distinct market advantages:
- Market Leading Service Fees
- Speed of Payment (often same day)
- Personalized Account Rep and an Always-on OTC platform for transactions at otc.gonetcoins.com
With last week’s announcement of Ethereum (and ERC20 protocols) being added to the Netcoins software platform, we will be moving ahead with the listing of a wide range of ALT coins in the coming weeks and months. By listing ALT coins, Netcoins will receive compensation and promotion which may include:
- Cash payments and/or coin allocations to list coins, and
- Cross promotions, where ALT coin companies promote Netcoins as a preferred exchange for their purchase and sale, and
- Trading fees, as always, when consumers/investors buy and sell ALT coins via OTC or our retail platform.
The Canadian market lacks an exchange with a wide range of ALT coins outside of the majors coins, and Netcoins plans to exploit this opportunity through a series of ALT coin introductions.
Further, within the OTC market, crypto miners are a primary target as they require a broker partner to liquidate the coins they mine. These customers, in particular, have a large and steady stream of coins. Netcoins has already completed miner transactions, and looks forward to announcing ongoing partnerships in this market in the near future.
Netcoins is in discussion with multiple leading Dealer-Brokerages in Canada, to enable Canadian investors to buy and sell crypto from their cash trading accounts using their traditional brokers. Teamed with a 3rd party coin custodial partner, to enable the safe storage and custody of coins, Netcoins aims to provide the back end trading services to this market.
“Netcoins is evolving into the leading crypto brokerage services firm in the country, with multiple lines of revenue generating business,” said Netcoins CEO, Mark Binns. “Our OTC business and forthcoming dealer-brokerage business have been born from demand and necessity as a wider range of customers and partners, both institutional and retail, have approached us to facilitate their brokerage needs.”
About the Company
The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 21,000+ retail locations globally and an Over-The-Counter (OTC) trading desk.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
For Investor Relations Inquiries please contact Netcoins at 778.785.1175 or email [email protected]
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.