BIGG Digital Assets Inc. (CSE: BIGG), an innovator in the digital assets space and owner of TerraZero, Netcoins, and Blockchain Intelligence Group is pleased to announce select unaudited financial results for Netcoins’ Q4 2023 and the launch of its Crypto Trading API.
Assets under Management and Revenues continue to grow:
Netcoins Q4 revenue totaled “approximately $1.83m CAD which was up nearly 60% from Q3 revenues of $1.08m.”
During Q4, Netcoins says that it saw significant trading volume “processing over $109m worth of transactions, accounting for nearly 38% of Netcoins 2023 volume, which was $286m.”
Netcoins also saw a 57% rise in Staked Ethereum on the platform from Q3 to Q4.
Netcoins launched its OTC Trading Desk in October 2023 which “helped to propel Netcoins trading. Over $21m was traded through Netcoins Enterprise and OTC Trading desk during Q4, led by Head of OTC Sales and Trading, Andrew Bulman.”
Netcoins President Fraser Matthews said:
“Enterprise and OTC Trading Clients will continue to be a focus for Netcoins in 2024, we see it as a significant growth area for the company. Whether it is bespoke solutions, deep liquidity or best in class rates and services, we are committed to providing Canadian and US clients with a great trading experience.”
As noted in the update:
“There is significant interest on both sides of the border in adding Bitcoin and other Crypto assets to Balance sheets at an Enterprise level, and with yesterday’s SEC approval of the first-ever Bitcoin spot-ETF in the US, it is clear that confidence in the sector is growing. We believe that this will have a positive impact for Netcoins from a trading perspective. With inflows of capital to the crypto industry it is a clear signal that not only will Bitcoin continue to gain investor confidence, but other Crypto Assets available on Netcoins, will garner newfound attention that can bolster portfolio value.”
The announcement also mentioned that while ETFs “are important channels for investors to gain exposure to Bitcoin, we are now less than 100 days from the next Bitcoin halving, which could trigger investors who want to hold the physical asset (Bitcoin directly) to purchase it for their own personal wallet(s). Overall, we believe that it will be a big year for Bitcoin and the Crypto industry as a whole.”
Netcoins ended Q4 with “over $105m in Assets Under Custody, based on a combination of Crypto ($85.5m) and Customer Fiat ($21m). Crypto Under Custody grew QoQ by 72%.”
Netcoins Crypto Trading API is live
After operating its Crypto Trading API on “an invitation only basis over the last 18 months, Netcoins is launching its Crypto Trading API to both Canadian and US Enterprises that are looking to build customizable Crypto solutions, while leveraging Netcoins trading capabilities, market data and deep liquidity.”
The Netcoins Crypto API empowers individual and institutional traders “to automate their trading activities with both CAD and USD pairs available. Partners can take advantage of low-latency, reliable API endpoints for crypto trading and data using live prices, easily connecting existing software or platforms to the Netcoins APIs to start trading in minutes.”