Netcoins Announces Unaudited Q2 Results
VANCOUVER, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company") (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), a leading innovator in the digital assets space and owner of Netcoins, Blockchain Intelligence Group, and TerraZero is pleased to report Netcoins unaudited Q2 2024 results. All figures are in Canadian dollars $(CAD.UK)$ unless otherwise stated.
-- Q2 2024 recorded quarterly revenue of $2.1 million, an increase of over
100% compared to Q2 2023
-- Netcoins crypto trading platform processed approximately $158 million in
crypto trading volume in Q2 2024, compared to $56.5 million in Q2 2023
-- Netcoins total cash, digital assets, and investments were approximately
$15.3 million as at June 30, 2024
-- Netcoins Assets Under Custody were over $147 million as at June 30, 2024
"Netcoins has consistently added new features and coins to its trading platform during the first half of 2024, adding 7 assets for Trading and 2 assets for Staking," said Netcoins CEO Fraser Matthews. "We have seen client and revenue growth through our Trading API and our OTC Trading desk during the first half of the year, allowing us to put into motion strategic investment in these areas of the business."
Q2 2024 Crypto Trading Highlights:
-- Registered users increased to 232,343 during Q2 2024 -- Total trading revenue increased by 100% in Q2 2024 vs Q2 2023 -- Total trading volume increased by 180% in Q2 2024 vs Q2 2023 -- Netcoins Pay Card Transaction Volume was $3m in Q2 2024
"Netcoins has seen continued growth starting from Q4 of 2023 and has benefited from several key initiatives that it worked on during 2023. I am excited to see the continued expansion in the United States, which sends a clear message to the market that Netcoins is truly a North American trading platform," said BIGG Interim CEO Dan Reitzik.
Netcoins creates video content for its investor community:
New Coins for Trading and Staking
OTC Sales and Trading Growth
Dan Reitzik
Interim CEO
ir@biggdigitalassets.com
778.819.3890
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.com), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero (terrazero.com).
Blockchain Intelligence Group is an industry-leading digital asset forensics, anti-money laundering detection, and cryptocurrency investigations company. At the heart of our operations is deep expertise in visualizing digital assets and market-related activities. This expertise is leveraged to monitor transactional data with a constant eye to assist our customers with risk management, due diligence, and forensic services for digital assets. For more information please visit our website www.BlockchainGroup.io.
Netcoins offers secure crypto trading in Canada and the USA, with a mission to make crypto trading easy. Netcoins has a robust product offering with over 45 assets for Crypto Trading, Netcoins Pay Mastercard and Staking (Canada Only). Netcoins facilitates crypto trading via its cutting-edge Mobile and Web applications and through its OTC Trading Desk. For more information please visit our website www.netcoins.com.
TerraZero Technologies Inc. is a vertically integrated Metaverse development group and leading Web3 technology company specializing in helping brands create immersive experiences. TerraZero's Metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms, and Web3 creators can seamlessly bridge and actionably grow their virtual world and the physical world endeavours together as one. TerraZero owns digital real estate for brands to establish a presence in existing virtual worlds and can also offer brands their own private worlds to provide 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. TerraZero's businesses are segmented into five (5) divisions which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) development of the Intraverse. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit https://terrazero.com/ or contact hello@terrazero.com.
For more information and to register for BIGG's mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR+ at www.sedarplus.ca.
Future operating results could also be materially affected by the price of cryptocurrency and the demand (or lack thereof) for cryptocurrency. In addition, BIGG's past financial performance may not be a reliable indicator of future performance.
Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the expected opportunities, outcomes, potential and benefits of the Company's products and services, evaluating, researching and predicting market trends, the development and completion of products and services, the launch of products and services, events, plans, courses of action, and the potential of the Company's technology and operations 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 forward-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, the ability to manage operating expenses, which may adversely affect the Company's financial condition, the ability to remain competitive as other better financed competitors develop and release competitive products, volatility in the trading price of the common shares of the Company, the demand and pricing of cryptocurrency, the Company's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; 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. The securities of BIGG are considered highly speculative due to the nature of BIGG's business. For further information concerning these and other risks and uncertainties, refer to the Company's website and filings on www.sedarplus.ca. In addition, BIGG's past performance may not be a reliable indicator of future performance.
Important factors that could cause actual results to differ materially from BIGG's expectations include consumer sentiment towards BIGG's products and Cryptocurrency, Blockchain and Metaverse technology generally, technology failures, the lack of demand for the company's products and services, fluctuations in the price of cryptocurrency, the ability to successfully define, design, and release new products in a timely manner that meet customers' needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the ability to obtain and/or maintain licences, permits and approvals that are necessary to operate the business; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; increase in costs and expenses; the dependence on key personnel; competition; the demand and pricing of cryptocurrencies and NFTs (including digital assets); litigation; security threats, including a loss/theft of NFTs, cryptocurrencies, and other assets; 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.
(END) Dow Jones Newswires
July 09, 2024 08:30 ET (12:30 GMT)
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