Canadian online payment processor NetCents has indicated its entry into the Caribbean by partnering with Bitt Inc., a local digital currency exchange.
The company, which last week had announced a partnership with Bitcoin exchange BitStamp, revealed how it is planning to expand its services among the next-generation markets such as Bitcoin. It had earlier raised investments from OverStock (NASDAQ: OSTK), the funds of which are now being visibly routed into NetCents’ expansion plans in the Caribbean region. Its new partner Bitt.com, on the other hand, is already known for its multitude of services which include a digital asset exchange, a mobile wallet, a remittance platform, and several other merchant payment processing tools.
Bitt.com is also actively working with the Central Bank of Barbados. They have been instrumental in the development of the digital version of Barbadian Dollar on the bitcoin blockchain. Soon they intend to create digital currency versions of other fiat currencies in the Caribbean as well. Bitt.com’s expansion plans coincide with that of NetCents and every inch of market gained by Bitt.com will indirectly benefit NetCents in their aspiration to become a truly global company.
In a statement, the CEO and Founder of NetCents, Clayton Moore says,
“This is a milestone for the Company and a great example of how two like-minded and innovative companies mutually benefit from working together. Bitt.com will be the first exchange to accept and offer NetCents, utilizing our newly updated payment gateway,”
“We are thrilled to continue offering easy and streamlined services to our users. Like NetCents, Bitt.com believes that its innovative financial technology provides consumers a faster, more efficient, and traceable way of banking. As we continue to expand our reach to customers, both domestically and globally, we want to remain at the forefront of modern financial solutions with our cutting-edge technology and dynamic payments platform. This partnership reflects that.” he added.
NetCents, through its partnerships already has access to customers from across 24 countries. As the company continues to strike more partnership deals, the number is expected to increase soon.
Ref: Yahoo Finance | Image: NetCents