NetCents Technology (NC.C) announced that they will soon be offering interest-bearing crypto accounts on its platform, according to a press release.
The company believes that offering interest to their customers is the next step towards legitimacy and should be available to participants in the cryptocurrency economy. They are also well positioned in the industry to begin offering a wider selection of financial products to suit their user base.
“The pandemic has really demonstrated how there are 80 million households that are unbanked in North America, and that the current financial system isn’t focused providing solutions to masses, they are maximizing revenue by focusing on the rich. Paying interest on deposits is something that lean companies like NetCents is well suited to offer,” said Clayton Moore, NetCents’ chief executive officer.
Share prices have risen dramatically over the past month from $0.88 to $1.25.
NetCents has previously produced a transaction and payment technology and now intends on facilitating transactions while offering interest-bearing accounts for both merchants and wallet holders. Individual investors have expressed an interest in earning interest on their assets over time when compared to traditional banking products offering minimal interest, or even negative interest rates, which are common to Europe.