VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W) , owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to provide a corporate update on Netcoins’ Q1 progress.
Netcoins (Netcoins.ca) is pleased to announce that Q1 2021 revenues grew by 337% (or 4.4x) Quarter over Quarter (QoQ) to ~$3.4 million 1 and trading volumes set a significant quarterly record exceeding $264 million.
Further, Netcoins would like to update shareholders with the following key metrics from Q1 2021:
- Quarterly revenues grew 337% (4.4x) and 1976% YoY
- Trading Volumes grew 266% (3.7x) QoQ and 1950% YoY
- New subscribers grew by 236% (3.4x) QoQ and 853% YoY
- Assets Under Custody (AUC) has grown 227% (3.3x) QoQ
- Daily verified users (full KYC) grew by 229% (3.3x) QoQ
- Trading margins continue to track above 1%
In addition, Netcoins revenue in the first half of April (April 1-15) has continued to accelerate, growing by 42% over March 1-15, and transaction volume grew by 44% over the same period.
1 All figures are preliminary and unaudited and subject to final adjustment. Numbers above do not include revenue from subsidiary Blockchain Intelligence Group, and hence do not represent complete revenues for BIGG Digital Assets Inc.
Further, Netcoins continued to expand its marketing programs across Canada with national TV ads, including National Hockey League and prime time news programming, national radio ads and a wide range of social media ads and social influencer promotion. Netcoins also added multiple customer support representatives to continue delivering industry leading support to our valued customers, and a seasoned product manager to guide the ongoing product and feature development of Netcoins.ca and Netcoins.app.
Netcoins also continues to answer questions, and actively engage with the BCSC, and CSA, on its pending Restricted Dealer License. We are actively working towards approval and will provide more updates as they become available.
We would also like to continue to highlight that Netcoins’ revenue model is solely dependent on trading, where a percentage of every trade is booked as revenue, regardless of the price of the underlying crypto asset being traded. Highly volatile days for Bitcoin, and crypto assets, drive higher trading volumes and higher revenues even if the assets are trending downward.
Netcoins president, Mitchell Demeter remarks, “ Netcoins had a great Q1, with very significant volume and revenue increases, along with product enhancements and customer support expansion. We are also actively laying the groundwork for future geographical expansion, regulatory approvals, and strategic partnerships. We look forward to providing more updates to shareholders in the near future . ”
On behalf of the Board
Mark Binns
CEO
mark@biggdigitalassets.com
T:+1.844.515.2646
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified ® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE™, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified ® , offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
For more information and to register to BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com . Or visit SEDAR at www.sedar.com .
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
