September 30th, 2021 | 22:51 CEST
BIGG Digital Assets: When a growth machine goes mainstream
Table of contents:
Netcoins as a regulated growth powerhouse
The Company emphasizes that it has more extensive opportunities to actively promote its trading venue thanks to the trading license. Also, word from Canada is that unregulated competitors are facing increasing headwinds. This mixed situation should accelerate the growth of Netcoins even more. Already in the past months, the platform has steadily developed and is consistently growing in double digits. In the second quarter alone, Netcoins made 24% more revenue. Measured against the previous year, the growth amounts to around 2,000%. In the second quarter, the number of users climbed by as much as 40% compared to the previous quarter. For the year as a whole, the number of users increased by an impressive 1,880%.
Security business alone is a million-dollar business
With regulators now giving BIGG the green light and BIGG being a regulated crypto exchange in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Prince Edward Island and Nova Scotia, professional market participants, in particular, are likely to opt for Netcoins. Since the license also comes with the possibility of extensive marketing efforts, retail investors who previously had no points of reference to cryptocurrencies should also become more aware of Netcoins. For BIGG's stock, today's news is a milestone. Having a regulated trading venue in its portfolio should also boost its other businesses, which offer transaction security and methods for regulatory oversight of the crypto market. Just recently, Mastercard reached out to a direct competitor of BIGG and acquired the Company. Although the parties have agreed not to disclose the purchase price, there is much to suggest that the price is at least in the range of BIGG Digital Assets' current market capitalization of around EUR 180 million.
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