NetCents kicks off formal application process to list on the OTCQB exchange

CEO Clayton Moore said the ‘timing is right’ for a cross listing with all its US-based agreements in place, and enhanced online payment platform functionality

A bitcoin wallet
Vancouver-based NetCents facilitates secure cryptocurrency transactions between merchants and consumers

NetCents Technology Inc (CSE:NC) announced Thursday that it has initiated the formal application process to trade on the OTC Markets' "QB" exchange.

The Vancouver-based online payment processor offers consumers and merchants online services for managing electronic payments. The company is focused on capturing the migration from cash to digital currency by utilizing blockchain technology.

The company is now listed on the Canadian Securities Exchange, the Frankfurt Stock Exchange and is hoping to trade soon in the Uunited States through the OTCQB venture market.

READ: NetCents says upgrade to robust cryptocurrency SaaS platform among 2018 advances

To be eligible, companies must be current in their reporting, undergo annual verification and certification and meet a $0.01 bid test.

"We have been planning to cross-list for quite a while but have been waiting until we established a footprint in the US,” said NetCents Technology founder and CEO Clayton Moore. “And now, with all of our signed US-based agreements along with the enhancements and platform functionality, the timing is now right for our formal entry into the US market," added Moore.

In the final quarter of 2018, NetCents reported a 206% increase in direct merchant sign-ups. In addition to the announced merchants, the company now boasts more than 425 direct merchant sign-ups, and the rate of sign-ups has increased each month.

NetCents has pushed back the release of its cryptocurrency credit card program in Canada to the spring of 2019 because of development work required for signed partner and merchant contracts.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

Quick facts: NetCents

Price: $0.44

Market: CSE
Market Cap: $21 m

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