VANCOUVER, British Columbia, Nov. 21, 2023 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W)owner of Netcoins and Netcoins USA (Netcoins.com) (“Netcoins”), the online crypto trading platform that makes it easy for North Americans to buy, sell and stake cryptocurrencies, is pleased to report to investors on its recent trading and platform performance as the crypto market continues to recover to keep up to date.
The Netcoins Crypto Trading Platform (CTP) continues to expand its customer base
As crypto market conditions steadily improve throughout 2023, Netcoins has seen consistent trading volumes. Most recently, the crypto market saw significant gains from Bitcoin (BTC), Ethereum (ETH), and a rise in a number of altcoins. As momentum builds around a number of BTC and ETH ETF filings in the US ahead of the Bitcoin halving in April, the market is showing signs of renewed interest in crypto trading and investing.
Netcoins continues to see growth in platforms’ assets under custody (AUC). As of November 15, 2023. Netcoins’ total assets under custody are $81.2 million. Netcoins posted double-digit growth monthly from September to October, with AUC increasing by $10 million each month.
Monthly trading volumes have increased significantly. In October, Netcoins recorded a total trading volume of $22 million on the platform. In the first 15 days of November, Netcoins recorded over $25 million in trading volume on the platform and will record the highest volume month of the year. Year-to-date (YTD), over $225 million worth of crypto assets have been traded on the Netcoins platform, demonstrating the stability and liquidity of the business.
“Netcoins experienced growth among retail customers, corporate customers and ATM operators, resulting in a significant increase in trading volume,” said Fraser Matthews, President of Netcoins. “We believe our continued growth relies on our ability to connect with customers in meaningful ways and provide convenient service, supported by our award-winning customer success team. We focus on creating a fast and easy trading experience that is suitable for both new investors and institutional investors. In the last 30 days, we have seen $35 million worth of trading volume flow through the platform – evidence that North Americans want to work with dynamic and engaging trading platforms that put the customer first.”
Over-the-counter trading of Netcoins is off to a good start in North America
In early October, Netcoins hired Andrew Bulman as its North American head Netcoins OTC sales and trading. Just six weeks after launching the desk, Netcoins OTC recorded over $12.6 million in transaction flow, with significant momentum building in November. “We see the growth of our OTC desk as a growth catalyst as high-frequency and high-net-worth traders can now access Netcoins’ extensive liquidity pools and our customized trading platform.” Our focus is on maximizing customer satisfaction, be it communication, first-class experience or the pricing. We will strive to be market leaders and believe this offering will grow significantly over the next 6 months, especially if the cryptocurrency market continues to grow,” explained Fraser Matthews.
Netcoins staking continues to increase its adoption rate
Netcoins stake There has been increasing adoption of staking since the service launched on May 31, 2023. As of November 15, 2023, 11.3% of customers’ ETH holdings are staked. This represents a steady increase since June 2023, when Netcoins pledged 6.5% of customers’ ETH holdings.
“Since we introduced Netcoins staking at the beginning of the year, we have seen steady adoption among our users. Staking is a great way for Netcoins ETH holders to earn passive income from the crypto assets they hold,” explains Kim Dwyer, Chief Operating Officer of Netcoins. “We look forward to expanding the service over the next year by introducing additional assets and features that will enable our users to continue to benefit from the benefits of holding cryptocurrencies.”
Netcoins Pay recorded large transaction volumes and huge benefits for users
Pay Netcoins is a free debit card with no balance required that allows registered Netcoins Canada users to use their card to make purchases every day wherever Mastercard is accepted. Netcoins offers its customers a 1% Bitcoin reward for every dollar they spend with the card.
Over $9 million has been spent by Canadian users using the Netcoins Pay Mastercard this year, a figure that will surpass $10 million by the end of November. The card has enjoyed great popularity since its launch and has paid out users nearly $55,000 in Bitcoin rewards for payments made with the card in 2023.
“We believe this is a valuable opportunity for Canadians to earn Sats simply by making everyday purchases using their Netcoins Pay card,” said Fraser Matthews. “Netcoins users have had the unique advantage of seeing their Bitcoin rewards grow significantly this year, with Bitcoin value increasing by over 100% in 2023. This is something that no other types of rewards programs in Canada can offer.”
On behalf of the board
Dan ReitzikInterim CEO[email protected]
About BIGG Digital Assets Inc. BIGG Digital Assets Inc. (BIGG) believes that the future of crypto is a secure, 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 develops technologies to drive compliance and intelligence for the crypto future. Banks and crypto companies rely on our technology to monitor the risk of crypto transactions. Investigators and law enforcement agencies can quickly identify and prosecute illegal activity. The Blockchain Intelligence Group is trusted by banks, crypto companies, law enforcement agencies, fintechs, regtechs and governments worldwide.
Netcoins offers secure crypto trading in Canada and the US with a mission to make crypto trading easy, with a focus on fast, easy and transparent trading. Netcoins has a robust product offering with Crypto Trading, Netcoins Pay Mastercard and Netcoins Staking. Netcoins uses BitRank Verified® software at the heart of its platform and facilitates crypto trading through its state-of-the-art mobile and web applications. 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 drive engagement across gamified experiences where enterprise-level companies, Metaverse platforms and Web3 developers build their virtual world and the efforts of the physical world can seamlessly connect and implementably expand as one. TerraZero owns digital real estate for brands to have a presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services for those interested in the metaverse. Additionally, TerraZero acquires, designs, builds and operates virtual assets and solutions to monetize the Metaverse ecosystem. TerraZero’s businesses are divided into five (5) business areas, which include: (1) creating immersive experiences in existing or private virtual worlds; (2) advertising; (3) data analysis; (4) events and marketing; and (5) evolution of the intraverse. TerraZero’s goal is to support the community, encourage innovation and drive adoption. For more information, please visit https://terrazero.com/ or contact us [email protected].
For more information and to sign up for BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR+ at www.sedarplus.ca.
Certain statements in this press release are forward-looking statements, including the completion of the search technology software and other matters. Forward-looking statements are statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking phrasing such as “may,” “expects,” “estimates,” “anticipates,” “intends,” “believes” 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 guarantee 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, which cause the predictions, estimates, forecasts, projections and other forward-looking statements not to occur. These assumptions, risks and uncertainties include, but are not limited to, the state of the economy in general and the capital markets in particular, as well as other factors, many of which are beyond BIGG’s control. The 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 as BIGG can give no assurance that it will prove to be accurate. Important factors that could cause actual results to differ materially from BIGG’s expectations include consumer sentiment toward BIGG’s products and blockchain technology in general, technology failures, competition and failure by BIGG to fulfill its contractual obligations counterparties.
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 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, BIGG assumes no obligation to comment on the expectations or statements of third parties with respect to the matters discussed above.
The CSE assumes no responsibility for the adequacy or accuracy of the content of this press release.
Source: BIGG Digital Assets Inc.
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