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 better facilitate the purchase and sale of bitcoin for end-users. Netcoins enables the sale of bitcoin through its software at retail outlets, through individual agents and directly to clients purchasing in large quantities.