Canadian online brokerage Netcoins will add Bitcoin SV (BSV) to its seven other listed digital assets. The announcement came in the wake of a US$525,000 non-brokered investment from Indigo IP Holdings Limited and a private investor in BIGG Digital Assets, Netcoins’ and Blockchain Intelligence Group’s (BIG) parent company.
The move will further expand the BSV ecosystem into new markets. BIG recently joined the Bitcoin world when it added BSV to its suite of analytics and identity services. That suite includes QLUE, an investigative tool for law enforcement agencies, and Bitrank Verified, a service to monitor and flag data on the blockchain.
Bitcoin Association Founding President Jimmy Nguyen said Netcoins’ decision “comes at an excellent time as interest in BSV grows around the globe,” and that BIG sees business value in expanding its participation in the Bitcoin BSV ecosystem.
Indigo is an investment arm of Calvin Ayre, founder of Ayre Group and CoinGeek. The deal was a non-brokered private placement that issued 2,282,609 units created by BIG. Each “unit” consists of one BIG common share valued at $0.23, and one warrant that can be exercised for a common share at $0.27 each. BIG also issued 114,130 more shares to cover investor costs.
BIG may accelerate the expiry date on those warrants to within 30 days if its closing share price tops $0.40 for 20 consecutive days before September 17, 2022.
Netcoins calls itself “Canada’s easiest, most trusted way to buy and sell crypto.” It launched in 2014 with a ‘virtual Bitcoin ATM’ servicing over 170,000 stores on three continents, and has since become an online digital asset trading platform that includes Netcoins.app and an OTC desk. Its president and founder, Mitchell Demeter, became famous when he launched the world’s first-ever physical Bitcoin ATM in Vancouver.
It currently allows users to purchase BTC, ETH, XRP, QCAD, BCH, LTC and Tether. Of those, BTC, ETH, XRP, BCH and LTC are available for purchase with a credit card.
Ayre said his move came after BIG added BSV to its Compliance Suite, and praised Netcoins’ decision to list BSV on its platform.
I was impressed by how BIG understands Bitcoin SV’s immense potential and future use at business scale. Its blockchain intelligence tools are outstanding and will help advance legal compliance in the use of digital assets, which is key to win enterprise-level adoption. With Netcoins also deciding to launch BSV trading, the BIGG parent company further showed that it understands the Bitcoin SV vision, making it easy for me to invest in this forward-thinking company.
BIGG Digital Assets CEO Mark Binns also commented on the deal, welcoming Ayre as a strategic investor:
Calvin has seen the power of the Blockchain Intelligence Group Compliance Suite, and shares our vision that the future of digital assets is a compliant and regulated environment. We are also excited to add Bitcoin SV to the Netcoins app, making Netcoins an even more attractive trading platform for Canadians.
More companies see BSV’s advantages
The Bitcoin BSV industry is proving that digital assets and legal compliance can easily coexist, and that such coexistence is necessary in the modern world. The more companies that understand this, the more that will notice and make the decision to join in.
Bitcoin is a network protocol with a fully transparent and auditable chain of data, able to massively scale to the extent where it processes all the world’s data. Once this vision is realized, the Bitcoin protocol could supplant today’s Internet protocol, giving the world digital network a more useful and honest backbone.
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