VANCOUVER, British Columbia, Nov. 29, 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 Blockchain Intelligence Group (blockchaingroup.io) ("BIG"), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to report its fiscal Q3 2021 financial results for the three and nine months ended September 30, 2021. All figures are in Canadian Dollars (CAD) unless otherwise stated.
Q3 2021 Highlights:
Subsequent to Q3, Netcoins trading volumes and monthly revenue both rose over 30%, from September to October, with continued acceleration expected through Q4.
Selected financial and operating information should be read in conjunction with BIGG's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three and nine-month periods ended September 30, 2021, available at www.sedar.com.
All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
BIGG CEO, Mark Binns, commented, "In Q3 we were pleased with the steady development of our businesses, and we continue to execute on our core business plans. Blockchain Intelligence Group revenue grew 70% YoY, and Netcoins, while having a slower summer due to industry wide trading volumes being down, experienced an impressive 462% growth YoY. We also took advantage of the recent Bitcoin price degradation, adding to our holdings which now sit with over 500 Bitcoin in treasury. BIGG's crypto investments report an impressive $6.8M unrealized gain at the end of Q3. We also have made minority investments in three solid businesses - Wonder.fi, ZenLedger and LQwD Fintech Corp, that are becoming leaders in their respective markets. In Q3, Netcoins made the significant step of receiving the first restricted dealer license for a crypto trading platform, owned by a public company, in Canada. This license sets the stage for growth, and Platform as a Service offerings to enable 3rd parties to offer crypto trading to their customers. Netcoins also expects to launch Netcoins Pay shortly, making it even easier for our loyal customers to make everyday purchases via their Netcoins account and receive crypto rewards. Thus far in the 4th quarter of 2021, we have seen trading volumes rise significantly from the quieter summer period and we look forward to continued growth, customer acquisition and product enhancements, as well as partnership expansions."
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 is a global developer of blockchain technology building a secure future. Financial institutions and crypto companies depend on its technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. The crypto forensics technology was designed by investigators for investigators. Blockchain Intelligence Group is trusted globally by leading financial institutions, crypto companies, Fintech, Regtech, law enforcement and regulators.
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.
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