BIGG Digital Assets Inc. Provides Financial Update For Q4 2021
VANCOUVER, British Columbia, Jan. 19, 2022 (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 preliminary, unaudited, Q4 2021 financial metrics for the three months ended December 31, 2021. All figures are in Canadian Dollars (CAD) unless otherwise stated.
Q4 2021 Highlights:
- Gross operating revenue of $3.3M (up 238% YoY), with $2.85M for Netcoins and $466k for Blockchain Intelligence Group (“BIG”)
- Netcoins revenue for Q4 represents 259% Year over Year (YoY) growth and 30% QoQ growth
- Customer accounts grew 32% QoQ, and customer fiat deposits exceeded $98M in the quarter.
- Active users grew 52% QoQ, # of transactions grew 42% QoQ
- Gross trading margins were ~1.4%, including withdrawal fees
- Blockchain Intelligence Group Q4 revenues increased 114% YoY, and gross margins were at 89%
Further Highlights:
- BIGG’s full year revenue of ~$14.2M represents a 463% growth over 2020
- Netcoins full year revenue of ~$12.6M represents a 717% annual growth rate over 2020
- Blockchain Intelligence Group’s full year revenue of $1.6M represents a 62% annual growth rate over 2020
- As of January 17, 2022, BIGG’s cash and crypto holdings equal roughly $62 million. The Company has no debt
- BIGG currently owns 500 Bitcoin, valued at approximately CAD $26.8M (excluding customer assets)
- Netcoins currently has customer Assets Under Custody of approximately $75M
- Netcoins registered users now exceed 125,000
BIGG CEO, Mark Binns, commented “In Q4 we saw excellent growth, across both Netcoins and Blockchain Intelligence Group, with combined revenue rising 26% QoQ. On the year, BIGG saw a tremendous 463% annual growth, achieving over $14M in revenue. As a business, we have long taken a compliance first approach to the crypto ecosystem and are now seeing the benefits. We received the first restricted dealer license for a publicly owned crypto trading platform in Canada, with Netcoins, at the very start of Q4, and the dividends are beginning to accumulate. In 2021 we were able to efficiently finance our businesses, add 500 Bitcoins to our treasury, remain debt free, accumulate a robust treasury, and achieve excellent revenue growth. We look forward to 2022 as a year of entering new marketing, launching new products, and investing in more leading crypto businesses, all to the benefit of our shareholders and stakeholders. We look forward to providing further business updates in the coming weeks and months.”
On behalf of the Board
Mark Binns
CEO
ir@biggdigitalassets.com
Investor Relations
Victoria Rutherford
Victoria@adcap.ca
T: 1.480.625.5772
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.
For more information and to register to BIGG’s mailing list, please visit our website at http://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.
