BIGG Digital Assets Inc., owner of Netcoins (Netcoins.ca and Netcoins.com), 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 search, risk-scoring and data analytics solutions, today confirms, in connection with the Company’s commitment to a transparent and compliant crypto industry in Canada and globally, that neither BIGG nor any of its operating subsidiaries have any exposure to FTX, the FTT token, Alameda research, Crypto.com or the Cronos token.
Regulated, Trusted and Safe
BIGG’s crypto brokerage subsidiary, Netcoins, is fully regulated in Canada, and registered with the British Columbia Securities Commission and Ontario Securities Commission, along with the securities commissions in all other provinces and territories in Canada. In accordance with these registrations, Netcoins holds customer assets with licensed, third-party custodians in a secure and insured environment. Netcoins does not lend, trade or invest client assets, or co-mingle customer digital or fiat assets with company assets.
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All customer fiat deposits (ex: Canadian Dollars) are held in a designated and insured trust account with a regulated Canadian financial institution. They’re also held separately from Netcoins’ business funds. This means Netcoins cannot use customer funds for business, operating expenses or other corporate-related expenses.
Netcoins has never owned, or listed for trade, the FTT token or the Cronos token, and has zero exposure to such tokens.
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BIGG is a publicly-traded company, which means we have additional financial, operational and disclosure requirements. Our financials and business operations are available for public consumption anytime on SEDAR.
Mark Binns, BIGG CEO, remarked, “BIGG was created under the mantra to be the leader in ‘Compliance First Crypto’. The events of the past week are tough to watch with the crypto sector reeling from the collapse of FTX. While upsetting, this development shows the value in BIGG’s approach to the industry and to our customers, and creates an opportunity for Blockchain Intelligence Group to work with more exchanges on transparency and accountability, while also highlighting Netcoins safety and competitive value in the Canadian and American markets.”
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