NetCents partners with Bitstamp to expand reach to European market

NetCents is a startup based in Canada which provides bitcoin payment services and exchange services for users to buy and sell bitcoin with a bank account or credit card in Canadian Dollars (CAD).

In a new initiative from the company, they are looking to expand their reach to Europe with the help of bitcoin exchange Bitstamp.

The startup issued a press release this week announcing the new partnership with Bitstamp with the goal to open up their platform to the European market which will give their users even more access to digital currencies.

Bitstamp recently obtained a Payment Institution License in Luxembourg, which legally allows them to operate as a financial platform in the European Union. Bitstamp’s license is passportable into the 28 EU member states providing all European customers with a robust, secure platform for bitcoin trading. This partnership will yield several industry initiatives for NetCents, further expanding its services and user base.

Bitstamp is also working on getting regulatory approval for leveraged trading on the exchange, according to Bitstamp CEO Nejc Kodrič. NetCents founder and CEO Clayton Moore had this to say about the new partnership:

“We are extremely excited about this integration with European powerhouse, Bitstamp. This is another important milestone in our ongoing global expansion and a key part of our business development strategy in broadening our services with leading blockchain groups, […] NetCents will leverage this relationship to continue growing our digital currency options. We are committed to solidifying a robust, worldwide digital assets ecosystem that is secure, transparent, and regulated.”

Gord Jessop, the President and COO also added that NetCents has a number of exciting initiatives that will be launched this quarter, as the company builds out the platform and team to scale.

The news comes on the heels of the Bitcoin Halving 2016, where the amount of miner bitcoin rewards in each block was halved from 25 BTC to 12.5 BTC.

The price of bitcoin around the time of the halving on the Bitstamp exchange was fluctuating from $646 USD to $657 USD finally coming back to hover around $650 USD.

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david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.