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March 1, 2021

NetCents Technology to support DeFi investing in partnership with Vesto

By Shalini mani

Canadian cryptocurrency payments company NetCents Technology has partnered with Vesto to enable DeFi investing in the NetCents platform.

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San Francisco-based Vesto provides a platform that enables users to select from multiple DeFi protocols in a virtual supermarket.

Under the partnership, NetCents plans to facilitate a portal to the Vesto infrastructure from its wallet. This will enable its users to adopt DeFi investing in an ‘easy to understand interface’, noted the Canadian crypto firm.

Additionally, the parties are considering a joint venture, with an option for NetCents to invest in Vesto and acquire a significant stake in the company in the future.

NetCents founder and CEO Clayton Moore said: “We have seen the DeFi space explode over the past year, but for it to reach the next level – the tools and the process has to be attainable by the novice crypto investor.

“We will be adding a layer of simplification to the process so that individuals can have their savings actually working for them without the complexity of the current platforms. Individuals have the right to lend their money at market based rates instead of getting 1% interest on their savings that the commercial banks are offering.”

It is said that several of the concepts linked to DeFi platforms have not been vetted by the authorities regulating financial products.

NetCents said that it will work with regulators to navigate this landscape and come up with a compliant offering.

Moore further said: “Regulators aren’t going to be excited about DeFi without someone like NetCents there to protect investors from loss in some way.

“NetCents intends to screen DeFi players, and will make sure that investors will continue to be able to have access to their funds even if a user does something like forget the password they have on their account.”

Fintech businesses looking to launch a new offering to the market are allowed to seek regulatory relief through regulatory sandboxes, including the Ontario Securities Commission’s LaunchPad and the British Columbia Securities Commission’s SandBox.

In 2019, NetCents unveiled a service that serves as rails to add cryptocurrency services into existing platforms of financial institutions.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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