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BIGG Digital Assets Reports Financial Results For Third Quarter 2021, Q3 Revenue up 308% YoY to $2.6M
Tuesday, December 14, 2021
Vancouver, BC, December 14, 2021--(T-Net)--BIGG Digital Assets Inc. (CSE: BIGG; OTCQX: BBKCF), owner of Netcoins (Netcoins.ca ), an online cryptocurrency brokerage, and Blockchain Intelligence Group (blockchaingroup.io), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, reported its fiscal Q3 2021 financial results for the three and nine months ended September 30, 2021.
Q3 2021 Highlights:
Further Highlights:
Subsequent to Q3, Netcoins trading volumes and monthly revenue both rose over 30%, from September to October, with continued acceleration expected through Q4.
Mark Binns, CEO, BIGG Digital Assets Inc.
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.
The company says it also took advantage of the recent Bitcoin price degradation, adding to their 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.
The company also have made minority investments in three 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 their customers to make everyday purchases via their Netcoins account and receive crypto rewards.
Thus far in the 4th quarter of 2021, the company says it has seen trading volumes rise significantly from the quieter summer period and expects continued growth, customer acquisition, product enhancements, and partnership expansions.
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 https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.
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.
Forward-Looking Statements
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