Marketing assets

BIGG Digital Assets Inc. Reports First Quarter Financial Results

VANCOUVER, British Columbia, May 30, 2022 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W)Netcoin owner (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 research, risk scoring and data analytics solutions, is pleased to report its first quarter 2022 financial results. All figures are in Canadian dollars (CAD) unless otherwise specified.

Highlights of the first quarter of 2022:

  • Gross operating revenue of $2.5M, including $1.97M for Netcoins (down 41% YoY) and $0.53M for Blockchain Intelligence Group (up 76% YoY )
  • Netcoins Q1 revenue of $1.97m down 29% quarter-over-quarter (QT), vs. industry average decline of 37.7%1outperforming the broader market
    • Customer accounts grew 24% in Q1 (TQ) to 148,000, and quarterly active users grew 24% year-over-year
    • Customer escrow deposits exceeded $74 million during the quarter.
    • Gross trade margins exceeded 1.4% in the first quarter
  • BIG’s Q1 revenue represents 76% growth over Q1 2020, with gross margins of 81%
  • TerraZero Generated $0.27M in Q1 2022 Revenue, BIGG Proportionate Profit Equivalent to $0.08M
  • As of March 31, 2022, BIGG’s cash and crypto holdings were approximately $51.1 million.
  • The Company has no debt

Other highlights:

  • BIGG currently owns 575 Bitcoins, valued at around $22 million
  • Netcoins currently has custodial client assets of approximately $58 million
  • Registered Netcoin Users Now Surpass 162,000
  • Blockchain Intelligence Group’s compliance suite (QULUE and BitRank) now supports 11 blockchains, including over 372,000 ERC-20-based tokens, and has an assessed risk of over 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 MD&A for the three months ended March 31, 2022, available at www.sedar.com.

All financial information contained 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:

“The first quarter of 2022 showed continued revenue growth and expansion for Blockchain Intelligence Group, establishing new quarterly revenue above $500,000 for the first time, underscoring that our ongoing marketing program is working well. . Netcoins, despite a decline in trading volumes and revenue, exceeded industry norms for the quarter, and we believe we gained market share in Canada. Coinbase, for comparison purposes, saw a 58%2 decline in retail transaction volume in Q1 compared to Q4. Our customer base grew by 24% in the first quarter, and with the return of volume and volatility to the market, we are very well positioned to take advantage of this.

In Q1, Netcoins also expanded the coin offerings on the platform to 16 and then added 15 more coins in Q2, bringing our total to 31. For the majority of Q1, Netcoins only offered 11 coins pending regulatory updates. With 31 coins now offered and a larger customer base, Netcoins continues to grow and mature as a business.

In 2022, Blockchain Intelligence Group has already expanded its coverage to 11 blockchains, including over 372,000 ERC-20 tokens, with further blockchain expansion planned.

In the first quarter, BIGG also invested in TerraZero by acquiring an approximate 30% stake, and TerraZero began generating revenue and serving brands such as Miller Lite. We expect TerraZero to continue to buy, lease, mortgage and lease Metaverse goods and services a rapidly growing international brand base with virtual buildings, wearable devices and experiences.

Finally, despite a depressed crypto market so far in 2022, BIGG continues to grow its core businesses and invest in new businesses and emerging opportunities. We look forward to sharing further updates on our progress in the near future. »

1 Coingecko Q1 2022 report on cryptocurrencies
2 Coinbase Q1 ’22 Letter to Shareholders

On behalf of the Council
Marc Binns
CEO
[email protected]

Investor Relations
Victoria Rutherford
[email protected]
Such. : 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 businesses to support this vision. BIGG has three holding 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 future of crypto. Banks and crypto companies depend on our technology to monitor the risks of crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. Blockchain Intelligence Group is recognized worldwide by banks, crypto companies, law enforcement, fintechs, regtechs and governments.

netcoins develops brokerage and exchange software to make buying and selling cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and security. Netcoins uses BitRank Verified® software at the core of its platform and facilitates crypto trading through a self-service crypto brokerage portal on 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 grow, acquire, and fund the Metaverse’s most promising companies, entrepreneurs, and developers. TerraZero also owns digital real estate and provides offices and services to people interested in the metaverse. BIGG owns approximately 30% of TerraZero.

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.sedar.com.

Forward-looking statements:

Certain statements in this release are forward-looking statements, which include the completion of search technology software and other matters. Forward-looking statements consist of 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 statements 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 known and unknown, general and specific assumptions, risks and uncertainties, which contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not be achieved. These assumptions, risks and uncertainties include, among other things, the state of the economy generally and financial markets in particular, and 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 forward-looking information, as BIGG cannot guarantee 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 generally, technology failures, competition and the inability 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 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, BIGG assumes no obligation to comment on any expectations or representations made by third parties with respect to the matters discussed above.

The CSE accepts no responsibility for the adequacy or accuracy of the content of this press release.