VANCOUVER, British Columbia, Jan. 20, 2022 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Blockchain Intelligence Group (blockchaingroup.io), a cryptocurrency compliance and intelligence company, is pleased to provide a full corporate update on the business and 2022 outlook.
Blockchain Intelligence Group capitalized on cryptocurrency’s momentum in 2021. Timely advancements to product and investment in marketing resulted in boosted revenue. Significant wins were recorded across its suite of products and services, especially software sales.
In Q4 2021, Blockchain Intelligence Group recorded gross operating revenue of approximately $466,000, with 72% from software sales, 27% from training, and 1% from forensic consulting. Revenues increased 114% year over year (YoY), with gross margin of approximately 89%.
Blockchain Intelligence Group celebrated a banner year in 2021, reporting gross operating revenue of ~$1.6M, with revenue increasing 62% over the prior fiscal year and gross margin of 88%. Blockchain Intelligence Group is well-positioned to expand its customer base and grow its revenue through 2022.
During the last 12 months, dozens of new software clients were added, such as a Fortune 500 bank, US regional banks, VASPs, a global management consultancy, KYC providers, accountants, and independent investigators. New contracts were secured evenly throughout North America, Europe, Asia, Australia, Africa, and South America. Training was delivered to dozens of organizations, such as federal agencies in the US and Canada, a Fortune 500 telecom, VASPs, blockchain industry associations, and others.
Blockchain Intelligence Group minted dozens of new strategic partnerships and reseller agreements in Hong Kong, Singapore, Taiwan, Barcelona, Sweden, the UK, and the US. Cryptocurrency price appreciation during 2021, which saw Bitcoin and other coins reach all-time highs, has driven awareness in the digital asset sector. Blockchain Intelligence Group is the third most recognized blockchain analytics company globally by Share of Voice (SoV). SoV is a measurement of brand mentions in global media coverage. The top two blockchain analytics companies by SoV are both tech unicorns - startups with valuations above USD $1 billion.
Subject matter experts from Blockchain Intelligence Group delivered keynote speeches and demos at events hosted by the International Association of Financial Crimes Investigators (IAFCI), CoinGeek, National Association of Drug Diversion Investigators (NADDI), Ireland Compliance Association, Suncoast Banker Association, Anguilla Fintech Conference, Singapore Fintech Festival, and the Anti-Human Trafficking Intelligence Initiative (ATII). Blockchain Intelligence Group has secured several 2022 keynote speeches at industry events for bankers and law enforcement.
Major product enhancements further differentiated Blockchain Intelligence Group from its competition. New graphing capabilities and tools help investigators follow the flow of funds to known entities. Tighter integration between products enhances productivity for compliance and investigation use cases. More customization capability allows clients to adjust tools to their operations. The 2022 roadmap will support increasing market share across industries and geographies.
In the first week of January, Blockchain Intelligence Group released a first-of-its-kind Cryptocurrency Compliance Playbook for the US targeting VASPs and financial institutions - available now for free download. In the second week, the team broke the story of the first NFT scam in 2022 as reported in Blockworks and 12 other news outlets to-date. Coverage is pending in tier-one news outlets. The story earned Blockchain Intelligence Group 93% of the media coverage compared to its top competitors.
President, Lance Morginn, commented, “Blockchain Intelligence Group is winning more competitive bid situations. On numerous occasions in 2021 clients said they picked Blockchain Intelligence Group for its quality of data and attribution for nefarious addresses. We have said from day one, our growth begins with the quality of our data, granularity of information, and timeliness of attribution. We also hear how easy our services are to use and understand. Our team has done an excellent job developing what the industry is calling best-in-class forensic tools with an unparalleled user experience. I am excited about what the future holds as being one of the global thought leaders in cryptocurrency intelligence and analysis.”
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).
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.
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.
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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