VANCOUVER, May 2, 2022 – 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 its fiscal 2021 financial results. All figures are in Canadian Dollars (CAD) unless otherwise stated.
2021 Highlights:
- Gross operating revenue of $14.1M (up 461% Year-over-Year (YoY)), with $12.5M for Netcoins (up 712% YoY) and $1.6M for Blockchain Intelligence Group (up 64% YoY)
- Netcoins Q4 revenue was $2.78M representing 250% growth versus the same three months in 2020
- Customer accounts grew 32% in Q4 Quarter-over-Quarter (QoQ), transactions grew 42% (QoQ), and Quarterly Active Users grew 53% QoQ.
- Customer fiat deposits exceeded $91M in the quarter.
- Gross trading margins exceeded 1.3% in Q4
- BIG’s Q4 revenue was $486k, representing 123% growth versus Q4 2020, with gross margins of 83%
- As of December 31, 2021, BIGG’s cash and crypto holdings were ~$65 million
- The Company has no debt
Further Highlights:
- BIGG currently owns 575 Bitcoin, valued at approximately $28M
- Netcoins currently has customer Assets Under Custody of approximately $73M
- Netcoins registered users now exceeds 155,000
- Blockchain Intelligence Group’s compliance suite (QLUE and BitRank) now supports 9 blockchains, including 350,000+ ERC-20 based tokens, and has risk scored 3.5 billion addresses across these chains
Selected financial and operating information should be read in conjunction with BIGG’s audited consolidated financial statements and related Management’s Discussion and Analysis for the year ended December 31, 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.
BIGG CEO, Mark Binns, commented:
“2021 was a transformational year for BIGG Digital Assets. Our top line revenue grew 461% to surpass $14M, with both Netcoins and Blockchain Intelligence Group showing excellent product market fit and revenue growth. We also took advantage of the recent Bitcoin price degradation, adding to our holdings throughout 2021, and into 2022, which now sit at over 575 Bitcoin in treasury. We made minority investments in four early stage crypto related businesses in 2021 – TerraZero, Wonder.fi, ZenLedger and LQwD Fintech Corp, subsequently exiting our position in Wonder.fi profitably. We made a further investment in TerraZero in early 2022, a leading metaverse company, adding another significant pillar to our corporate holdings and investments.
In Q3, Netcoins made the significant step of receiving the first restricted dealer license for a crypto trading platform owned by a Canadian public company. In Q1 2022, Netcoins received an update to their license, allowing for the expansion of coin offerings on the platform. Netcoins also fully launched Netcoins Pay in Q1, after a Q4 trial period – making it even easier for our loyal customers to make everyday purchases via their Netcoins account and receive crypto rewards.
In 2021, Blockchain Intelligence Group expanded coverage to 9 blockchains including 350k+ ERC-20 tokens, with further blockchain expansion planned. Notable new customers in 2021 included a Fortune 500 bank and a global management consultancy, Ankura. In Q3 and Q4, Blockchain Intelligence Group deployed Multi-Chain Graphing and other capabilities for QLUE to conduct detailed transactions across Bitcoin and Ethereum. QLUE was also used to uncover the first NFT scam of 2022 called Frosties.
Despite a depressed crypto market thus far in 2022, BIGG continues to develop its primary businesses and invest in new emerging businesses and opportunities. We look forward to sharing further updates on our progress in the near future.”
On behalf of the Board
Mark Binns
CEO
[email protected]
Investor Relations
Victoria Rutherford
[email protected]
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 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. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the Metaverse ecosystem. The Company’s businesses are segmented into five (5) divisions which include: (1) virtual real estate; (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 and to register to BIGG’s mailing list, please visit our website at https://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.
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