VANCOUVER, British Columbia, Nov. 14, 2022 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca and Netcoins.com) (“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, today confirms, in connection with the Company's commitment to a transparent and compliant crypto industry in Canada and globally, that neither BIGG nor any of its operating subsidiaries have any exposure to FTX, the FTT token, Alameda research, Crypto.com or the Cronos token.
Regulated, Trusted and Safe
BIGG’s crypto brokerage subsidiary, Netcoins, is fully regulated in Canada, and registered with the British Columbia Securities Commission and Ontario Securities Commission, along with the securities commissions in all other provinces and territories in Canada. In accordance with these registrations, Netcoins holds customer assets with licensed, third-party custodians in a secure and insured environment. Netcoins does not lend, trade or invest client assets, or co-mingle customer digital or fiat assets with company assets.
All customer fiat deposits (ex: Canadian Dollars) are held in a designated and insured trust account with a regulated Canadian financial institution. They’re also held separately from Netcoins’ business funds. This means Netcoins cannot use customer funds for business, operating expenses or other corporate-related expenses.
Netcoins has never owned, or listed for trade, the FTT token or the Cronos token, and has zero exposure to such tokens.
BIGG is a publicly-traded company, which means we have additional financial, operational and disclosure requirements. Our financials and business operations are available for public consumption anytime on SEDAR.
Mark Binns, BIGG CEO, remarked, “BIGG was created under the mantra to be the leader in ‘Compliance First Crypto’. The events of the past week are tough to watch with the crypto sector reeling from the collapse of FTX. While upsetting, this development shows the value in BIGG’s approach to the industry and to our customers, and creates an opportunity for Blockchain Intelligence Group to work with more exchanges on transparency and accountability, while also highlighting Netcoins safety and competitive value in the Canadian and American markets.”
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.ca), 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 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.
TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company’s Metaverse agnostic vision is to develop, acquire, and finance the Metaverse’s most promising companies, entrepreneurs, and developers. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. BIGG owns ~30% of TerraZero.
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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