BIGG Digital Assets Inc. Announces Record Quarterly Revenue at CAD ~$4.6 Million, and 880% Year over Year Growth
VANCOUVER, British Columbia, July 20, 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 (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce record quarterly revenue of CAD ~$4.6 million for Q2 2021.
Netcoins revenue was ~$4.2M1 for Q2, representing ~26% Quarter over Quarter (QoQ) growth, and over 1900% Year over Year (YoY) growth.
Further, Netcoins reports:
- Active Users reached ~19,000 during Q2, growing 40% QoQ, and 1880% YoY
- Registered users now exceeds 80,000
- Individual Transactions/Trades grew by 32% QoQ and 1400% YoY
- Trading margins continue to track above 1%
For Blockchain Intelligence Growth, revenue in Q2 grew to ~$400k, up 33% Quarter over Quarter.
1All figures above are preliminary and unaudited and subject to final adjustment. Numbers above do not include gains or losses on digital asset inventory.
BIGG CEO, Mark Binns, commented “BIGG Digital had an excellent Q2 reaching our highest quarterly revenue figure to date, with substantial growth Quarter over Quarter, and Year over Year. Both business units, Netcoins and BIG, grew significantly in Q2 showing the strength and diversity of our revenue base. Netcoins is working to release their mobile app shortly, once Beta testing is completed, and continues to work with the CSA on their restricted dealer license. Netcoins is also planning to launch in the US in 2H 2021, and is working on a number of new products. We will provide further details on these initiatives soon. BIG, with the recent expansion of their sales and marketing teams, including Mr. Callahan and Mr Fasanello, is poised for a strong second half of 2021. The crypto markets we operate in are volatile, and cyclical, but BIGG continues to execute and grow it’s business for all shareholders. We look forward to providing full Q2 2021 financials in August.”
On behalf of the Board
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, QLUETM, 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.
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.
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