There’s a revolution happening in the world of finance. Decentralized cryptocurrencies are changing the way money moves around our planet, how people invest and how they trade currency, and the phenomena is only growing. Recently, companies like PayPal entered the crypto market, as have institutional investors and high-profile figures like Elon Musk.
But as cryptocurrency evolves, its continued success is increasingly reliant on our ability to weed out criminal activity from the system and develop tools that make it easier for people to buy, sell and spend crypto like Bitcoin.
BIGG Digital Assets is one company committed to creating a safer, more accessible crypto environment, and they have the products and know-how to make it happen.
BIGG, headquartered in Vancouver, Canada, has two complimentary businesses designed to support the growth of the emerging crypto ecosystem – Blockchain Intelligence Group, a blockchain forensics business, and Netcoins, a trading platform that can be scaled globally.
Blockchain Intelligence Group helps law enforcement track Crypto through the blockchain using proprietary software solutions. They have two main products. The first one is called QLUE, which is used to track the movement of crypto through multiple blockchains like Bitcoin, Litecoin, Ethereum, and Bitcoin cash. Mark Binns, the company’s Chief Executive Officer and Director explains how it works. “QLUE gives us the ability to monitor a transaction from a starting wallet, through all the wallets it touches, till it hits an end point, which is usually a cryptocurrency exchange. This allows us to do things like track stolen crypto, deal with money laundering, or other crimes involving crypto like weapons purchases, illicit drug purchases, etc.”.
There is only a small handful of companies in the world, like CipherTrace (https://ciphertrace.com/) and Chainalysis (https://www.chainalysis.com/), that have comparable products to QLUE because of the significantly high barriers to market entry. That makes QLUE all the more valuable to a growing client base that touches every continent on the planet. But their biggest customer is the US government, a good starting point for any company.
The company’s other product, BitRank, is used to risk score transactions. It allows authorities to monitor transactions to determine if it originated from a wallet previously used in illegal activity or the dark web. If a suspicious transaction comes to light, a compliance officer can be notified to investigate.
Clearly, BIGG is finding a growing client base for products like QLUE and BitRank. The big question is, how are they perceived by investors? It’s a question that Binns is quick to answer. “One of our competitors was recently valued at two billion dollars. It’s still a private company. So, investors in the Crypto forensics market see the value of companies like ours and believe the space is growing to hundreds of millions of dollars annually”.
The growth potential for BIGG is impressive, even before considering opportunities associated with their other business, Netcoins.
Netcoins is a cryptocurrency exchange currently sharing the Canadian market with competitors like Voyager Digital (www.investvoyager.com) and Coinsquare (www.coinsquare.com). But Netcoins differentiates itself by its ease of use and industry leading customer service.
“A lot of platforms in the Crypto trading world are very complex and overwhelming” Binns explains. “Our goal is to be one of the easiest and simplest platforms to use for trading crypto in Canada. It’s very easy for a trader or a newbie investor to crypto to sign up. They can create an account within five minutes and start trading in less than ten”.
Ease of use and support are key reasons why Netcoins is being adopted so quickly. In 2020, BIGG saw trading volumes grow by more than a 1,070% on the platform, and in 2021 they are seeing those numbers rise even quicker. This past April, Netcoins set a new daily trading record, processing over $23 million in digital assets.
Those numbers have Binns thinking big. “We want Netcoins to be one of the top three trading platforms for Crypto in Canada, by volume, and are studying possible expansion into Europe and the U.S.”
Just as significantly, they want to become one of the first regulated trading platforms in Canada and are actively working with regulators, the CSA, Sandbox, and the BC Securities Commission to make that a reality. “We want everyone to know that Netcoins is a safe and regulated place where users can trade Crypto without any hesitation” Binns said.
That’s a sentiment that resonates with industry analyst Victoria Rutherford of Adelaide Capital.
“We really like the regulatory angle that the company provides. They have two operating segments. Both have been designed and are centered around compliance, and we think regulation is going to become increasingly prevalent in the industry. BIGG is well-positioned to capitalize on that.
Rutherford believes that Netcoins’ work with regulators puts them ahead of the pack on this score and becoming one of the first regulated Crypto exchanges in Canada would be a positive catalyst for BIGG.
Regardless of the day-to-day fluctuations in Crypto, the long-term trend indicates a growing need for measures that ensure a safe and accessible market. That translates into a BIGG opportunity for a company with the right solutions.
Learn more at https://biggdigitalassets.com/
FULL DISCLOSURE: BIGG Digital Assets Inc. is a client of BTV-Business Television. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.