VANCOUVER, British Columbia, Aug. 29, 2023 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (https://www.netcoins.com/ca/ and Netcoins USA https://www.netcoins.com/us/) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for North Americans to buy, sell and stake 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 Q2 2023 financial results. All figures are in Canadian Dollars (CAD) unless otherwise stated.
Q2 2023 Highlights:
- Gross operating revenue of $1.35M, with $1.02M for Netcoins and $0.33M for Blockchain Intelligence Group
- Netcoins added Etheruem staking in Q2, achieving over $1.1M staked to date
- Netcoins added 1Inch, dYdX, Loopring, Pax Gold and Render coins for trading, reaching 42 total coins available in Canada
- Netcoins USA is now operational in 17 states
- Blockchain Intelligence Group added Compliance Suite support for Ethereum Classic (ETC) and Binance Smart Chain (BSC)
- Blockchain Intelligence Group also added Investigation Graph (iGraph) support for TRC-10 tokens
- Blockchain Intelligence Group launched its Advanced Ethereum Course - CCIE
- Cash and crypto in treasury of $12.3M at June 30, 2023; no debt
Highlights Subsequent to June 30, 2023:
- Netcoins currently has customer Assets Under Custody of ~$66M
- Netcoins registered users has reached ~209,000
- Blockchain Intelligence Group now supports multiple delivery models: SaaS (existing), On Premise and Hybrid.
- BIGG announced the signing of a definitive amalgamation agreement to acquire 100% of TerraZero. The transaction is expected to bring over $5M in cash to BIGG upon closing.
Selected financial and operating information should be read in conjunction with BIGG's unaudited condensed consolidated interim financial statements and related Management's Discussion and Analysis for the six months ended June 30, 2023, 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.
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 has three portfolio companies: Netcoins (netcoins.com), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero (terrazero.com).
Blockchain Intelligence Group builds technology to power compliance and intelligence for the crypto future. Banks and crypto companies depend on our technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. Blockchain Intelligence Group is trusted globally by banks, crypto companies, law enforcement, fintechs, regtechs and governments.
Netcoins offers safe and secure crypto trading in Canada and the USA, with a mission to make cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins has a robust product offering with Crypto Trading (US and CA), Netcoins Pay (CA) and Netcoins Staking (CA). Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via its cutting-edge Mobile and Web applications. For more information please visit our website www.netcoins.com.
TerraZero Technologies Inc. is a vertically integrated Metaverse development group and leading Web3 technology company specializing in helping brands create immersive experiences. TerraZero's Metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms, and Web3 creators can seamlessly bridge and actionably grow their virtual world and the physical world endeavors together as one. TerraZero owns digital real estate for brands to establish presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the metaverse ecosystem. TerraZero’s businesses are segmented into five (5) divisions which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit https://terrazero.com/ or contact firstname.lastname@example.org.
Certain statements in this release are forward-looking statements, which include the 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.