NetCents Technology, a cryptocurrency payments company, has signed an agreement with Vesto to enable decentralized finance (DeFi) protocols to run on its platform.
Together, NetCents and Vesto aim to pave the way for DeFi investing and enable users to choose from multiple DeFi protocols to lend and borrow tokens. Through their joint venture, NetCents intends to create a portal to the Vesto infrastructure from the NetCents wallet. This will enhance and facilitate investors’ adoption of DeFi. Per NetCents CEO and founder Clayton Moore:
“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.”
Moore explained that on NetCents, individuals will be able to lend their money at market-based rates, thereby circumventing the 1% interest on their savings that commercial banks typically demand.
The decentralized finance sector has taken off and has provided investors with the opportunity to become lenders and borrowers in a decentralized manner, with investors having complete control over their holdings at any given time. Thanks to smart contracts that operate on blockchain solutions like Ethereum, this has been made possible.
Although DeFi has gained traction and has excited many in the crypto industry, financial regulators are not necessarily as enthused by the idea of a decentralized project in the financial field. This is where NetCents jumps in. Moore explained:
“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.”
The NetCents CEO further said that his company was working closely with regulators to deliver a product compliant with existent securities laws.
NetCents Technology is a transactional hub for cryptocurrency payments. Through their technology, businesses and startups are able to integrate cryptocurrency processing into their payment model while avoiding the volatility of the cryptocurrency market. Merchants can accept cryptocurrency payments from any eWallet, with no chargebacks or monthly fees.
NetCents also offers Personal accounts for individuals to buy, sell, and trade cryptocurrency. NetCents users have the ability to make payments, transfer funds, and exchange cryptocurrency, all from one secure platform. DeFi investing is the next natural step in the evolution of the NetCents Personal platform.
As the decentralized finance industry continues to attract billions in liquidity every month, the momentum seems inevitable. With NetCents Technology providing easy access to DeFi investments, more investors will be able to onboard the trend and enjoy the benefits of decentralized finance.