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BIGG Digital Assets Provides Corporate Update Highlighting Material CRA Reassessment, Netcoins Milestones, and Strategic Progress
Globenewswire· 2025-12-17 11:00
Core Insights - BIGG Digital Assets Inc. provides a corporate update highlighting regulatory, operational, and strategic milestones across its organization [1] Regulatory Update - The Company has received a notice of reassessment from the Canada Revenue Agency (CRA) that reduces the GST/HST assessed on Netcoins' 2018 cryptocurrency transactions by $3,864,681, which is a 64% reduction from the original amount of $6,071,388 [4] - The revised GST/HST principal now stands at $2,206,707, and the total amount owing, including interest and penalties, is now $3,228,842, down from $8,871,854, marking a decrease of $5,643,012 [5] - This reassessment significantly reduces a contingent liability and improves the Company's financial position as it advances its 2026 Canadian Investment Regulatory Organization (CIRO) membership application [5] Operational Milestones - Netcoins has surpassed $1.0 billion in cumulative transaction volume in 2025, exceeding the full-year 2024 volume of $785 million, indicating continued user growth and increased engagement [15] - Netcoins has joined the BitGo Go Network, which enables free, instant settlement of USD and digital currencies, enhancing its institutional settlement capabilities [12] - The Company has launched a dedicated in-app crypto lending page, providing users access to APX Lending's BTC and ETH loan platform, with full platform integration expected in the first half of 2026 [14] Strategic Developments - Blockchain Intelligence Group continues to provide blockchain analytics and forensic investigation solutions to government agencies and enterprises, focusing on compliance and transparency in the digital asset ecosystem [17] - TerraZero Technologies has enhanced its Intraverse technology stack, reduced operating expenses, and is prioritizing high-impact partnerships to drive commercial contracts and real-world deployments [18][20] - The Company is advancing a licensing strategy for its technology stack to unlock additional monetization pathways, positioning itself for broader revenue streams heading into 2026 [20]
Netcoins Canada Provides Q3 2025 Financial Guidance
Globenewswire· 2025-11-10 11:00
Core Insights - BIGG Digital Assets Inc. is a leading innovator in the digital assets space, owning Netcoins, Blockchain Intelligence Group, and TerraZero, and has announced Q3 2025 financial guidance [1] Financial Performance - Netcoins reported trading and staking revenue of $2.8 million in Q3 2025, with year-to-date trading volumes exceeding $917 million [2][7] - Netcoins' net income for the quarter was approximately $2.8 million, with operating expenses around $2.3 million [7] - As of October 31, 2025, Netcoins holds approximately $18 million in cash and digital assets and $225 million in assets under custody [7] Product Development - Netcoins has launched a dedicated in-app lending page for BTC and ETH loans, integrating APX Lending's platform [3] - The company has also introduced an educational landing page to assist users in understanding the lending experience [3] Marketing and Brand Presence - Netcoins is promoting the Netcoins Crypto Report on 1130 News Radio in Vancouver, providing updates on cryptocurrency market movements and regulatory news [4][5] - This initiative aims to enhance brand visibility among retail investors and reinforce the company's commitment to education and responsible innovation [5] Compliance and Audits - Netcoins Canada completed its SOC 2 Type 1 Audit on September 12, 2025, with plans to complete its first SOC 2 Type 2 Audit by July 2026 [6]