Business
BIG Blockchain Intelligence Group Announces Acquisition of Netcoins Operations, Entry into Bitcoin Institutional OTC Trading and Cryptocurrency Custody Services
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2019) - BIG Blockchain Intelligence Gr...
About this update from Bigg Digital Assets Inc.
[{"type":"text","content":"BIG Blockchain Intelligence Group Announces Acquisition of Netcoins Operations, Entry into Bitcoin Institutional OTC Trading and Cryptocurrency Custody ServicesVancouver, British Columbia--(Newsfile Corp. - May 27, 2019) - BIG Blockchain Intelligence Group Inc. (CSE: BIGG) (OTC Pink: BBKCF) (FSE: 7111) (\"BIG\" or the \"Company\") is pleased to announce that it has entered into a definitive share purchase agreement (the \"Agreement\") with Netcoins Holdings Inc. (the \"Vendor\") (CSE: NETC) whereby BIG will acquire all of the issued and outstanding shares of the Vendor's three subsidiary companies - Netcoins Inc., NTC Holdings Corp., and NTC Holdings USA Corp. (collectively, \"Netcoins\" )(the \"Transaction\"). Netcoins is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins completed over CAD$58 million in cryptocurrency transactions in 2018. It currently enables crypto transactions via over 171,000 retail locations globally, a self-serve crypto purchase portal and an institutional over-the-counter (OTC) trading desk. In addition, upon launch of its Netcoins Custody software, it is poised to deliver institutional-level crypto custody to the Canadian marketplace through an existing agreement with BitGo Trust Company, the world's largest processor of on-chain bitcoin transactions. In line with BIG's objective of bringing cryptocurrency mainstream, post-Transaction the Company will be a vertically integrated crypto company, focused on compliance, regulation and trading. BIG's \"compliance first\" strategy provides a distinct competitive edge when it comes to cost and readiness, over companies in the space that have either no or poor AML compliance. \"BIG's sophisticated AML compliance and reporting suite will give the Netcoins' transactional product offerings a marketplace edge while allowing our software and services to be marketed by Netcoin's highly experienced team via their existing sales channels,\" said Shone Anstey, BIG's Executive Chairman.Netcoins existing institutional OTC trading business will be enhanced by the integration of BIG's BitRank VerifiedⓇ product offering and advanced reporting technology on the source of crypto transactions. Custody is a key component to institutional ...