Netcoins announces unaudited Q1 2024 Results

VANCOUVER, British Columbia, April 02, 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, and Blockchain Intelligence Group and TerraZero is pleased to report Netcoins unaudited Q1 2024 results. All figures are in Canadian Dollars (CAD) unless otherwise stated.

• Q1 2024 recorded quarterly revenue of $3.1 million, an increase of nearly 180% compared with calendar Q1 2023

• Netcoins crypto trading platform processed approximately $265 million in crypto trading volumes in Q1 2024, compared to $60.8 million in Q1 2023

• Netcoins total cash, digital assets, and investments of approximately $21 million as at March 31, 2024

• Netcoins Assets Under Custody is now over $127 million as at March 31, 2024

• BIGG Digital Assets total cash, digital assets and investments of approximately $30 million as at March 31, 2024
  

Q1 2024 Crypto Trading Highlights:

• Registered users increased by ~14% in Q1 2024 vs Q1 2023
• Transacting users increased by ~50% in Q1 2024 vs Q1 2023
• Total trading revenue increased by ~180% in Q1 2024 vs Q1 2023 and ~65% vs Q4 2023
• Total trading volume increased by ~300% in Q1 2024 vs Q1 2023, and ~130% vs Q4 2023
• Netcoins Pay Card Transaction Volume increased by ~35% in Q1 2024 vs Q1 2023 with users spending over $2.6 million on the card during Q1 2024
  

“Netcoins Q1 2024 trading volume surpassed 90% of the entire volume generated in the 2023 fiscal year, which points to the inflows to the crypto market that have occurred during the first quarter of the year and the tremendous support that our clients have shown in Netcoins,” remarked Netcoins CEO Fraser Matthews.

Netcoins OTC Trading Desk has traded approximately $120 million worth of crypto since its relaunch in Q4 of 2023 and is led by Andrew Bulman. “Our OTC desk saw considerable growth throughout Q1 2024. We operate in a fast-moving and competitive space and we are focused on developing and growing our products and services to better suit our clients’ needs. We're also ramping up our account management and sales efforts, enabling us to continue providing a comprehensive and unparalleled trading experience for corporates, institutions, and qualified private investors. Netcoins is looking to partner with these client types that require a flexible OTC trading venue within Canada and the United States.”