VANCOUVER, British Columbia, Oct. 15, 2019 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTC:BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.app), a leading crypto brokerage platform, is pleased to provide an update on accomplishments and progress. 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 enables crypto transactions via retail locations globally, a self-serve crypto brokerage portal and an Over-The-Counter (OTC) trading desk.
Netcoins was acquired by BIGG on August 1, 2019. Subsequently, Mitchell Demeter was promoted to president. Mitchell had been acting as Vice President of Partnerships and Business Development since January 2018, and was instrumental in growing Netcoins into a leading player in the Canadian crypto brokerage space. Mitchell will now lead Netcoins into its next phase of growth.
Recently, Netcoins hit a lifetime milestone of processing $125 million in transactions since inception via online brokerage, virtual ATM and OTC services. Netcoins processed ~$59M in transactions in 2018 and through the first 3 quarters of 2019 is tracking to ~$69M in transactions for the fiscal year, despite a highly suppressed Q1 trading environment for cryptocurrencies globally.
In the wake of cryptocurrency exchange collapses and consumer and institutional security concerns, Netcoins has decided to take a leadership position in the movement to regulate crypto exchanges in Canada. Netcoins aims to work with securities regulators including the British Columbia Securities Commission in defining regulation and also becoming one of the first regulated crypto trading platforms in Canada.
Netcoins is also in the process of redesigning its trading platform and rationalizing the coins available for trading. With a goal of making the platform even more user friendly, and speeding the customer’s ability to onboard and fund their account, Netcoins expects to increase customer adoption and trades (and hence revenue) per customer. These changes have already begun and will continue throughout Q4 2019.
Netcoins president, Mitchell Demeter, commented, “We are thrilled to now be part of the BIGG Digital Assets family. Crypto winter seems to have thawed out, and Netcoins has continued to evolve in order to take full advantage of the next bull run in crypto. With a compliance first approach, we want to ensure that every customer’s money is safe and that the platform meets their needs in every way. Through new banking relationships, and the financial backing of BIGG, Netcoins is well positioned for growth into 2020 and beyond.”
On behalf of the Board,
Chief Executive Officer
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: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (gonetcoins.com).
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
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 enables crypto transactions via retail locations globally, a self-serve crypto brokerage portal and an Over-The-Counter (OTC) trading desk.
BIGG Investor Relations
Renmark Financial Communications Inc.
Nathanael Niedermann: firstname.lastname@example.org
Tel: (416) 644-2020 or (212) 812-7680
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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