Mr. Mark Binns reports
BIGG DIGITAL ASSETS INC. (BIGG) SUBSIDIARY BLOCKCHAIN INTELLIGENCE GROUP PARTNERS WITH BRANE CAPITAL TO EXPAND COMPLIANCE OFFERINGS TO GOVERNMENT AGENCIES AND FINANCIAL INSTITUTIONS
Bigg Digital Assets Inc., owner of Blockchain Intelligence Group (BIG), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, has formed a partnership with Brane Capital, a Canadian fintech company focused on the emergent digital asset market.
This partnership will provide highly secure custodial solutions with continuous address monitoring for financial institutions and law enforcement agencies, closing the gap between government institutions, regulated financial institutions and the emerging blockchain industry. The combined solutions give customers the option to integrate BIG's blockchain compliance solutions within Brane's existing infrastructure.
BIG's compliance suite platform will enhance compliance capabilities for financial institutions and law enforcement customers, bringing real-time transaction monitoring and high-risk transactions under one roof. Brane Capital built a proprietary one-stop vault protection protocol that allows the account holder to secure a wide range of cryptocurrencies, with one step in the event of account breach or unexpected loss of an authority holder. This partnership will prevent future losses of cryptocurrency resulting from the loss of a single person or entity holding the unshared private keys. This proprietary protection is designed to prevent scenarios like the QuadrigaCX locked wallet case.
Law enforcement customers can quickly liquidate their crypto into fiat currency using Bigg's Netcoins cryptocurrency exchange and without having to go through an auction process, which is how seized cryptocurrency is currently liquidated. The combined offering will also allow law enforcement agents and financial institutions to monitor high-risk addresses.
"This partnership and its combined capabilities further enhances Brane's turnkey custody solution and closes the gap on crypto compliance for our institutional clients," said Brane president Jerome Dwight, former chief executive officer of Bank of New York Mellon Canada. "These additional capabilities enable Brane to bring a truly standout offering to the Canadian and global markets and will establish our leadership position in digital asset custody services."
Lance Morginn, president of Blockchain Intelligence Group, said: "Brane Capital is uniquely positioned to help BIG expand our products and services in the crypto custody services space. This collaboration helps financial institutions and law enforcement agencies protect the crypto industry and ensure compliance under the current regulations. The custody solution Brane Capital has built allows for secure custody with built-in secure emergency protocols."
Also, pursuant to the company's stock option plan and subject to regulatory approval, Bigg has granted stock options to its directors, officers, employees and consultants to purchase an aggregate 245,000 common shares in the capital of the company at an exercise price of $3 per common share for a period of five years. The stock options will vest over a 24-month period, with 25 per cent of the options vesting on each of the six-, 12-, 18- and 24-month anniversary of the grant date. The securities represented by this grant will be subject to a four-month hold period.
About Bigg Digital Assets Inc.
Bigg Digital Assets believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg owns two operating companies: Blockchain Intelligence Group and Netcoins.
Blockchain Intelligence Group has developed a blockchain-agnostic search and analytics engine, Qlue, enabling law enforcement, regtech, regulators, and government agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. The company's commercial product, BitRank Verified, offers a risk score for cryptocurrencies, enabling regtech, banks, ATMs (automated teller machines), exchanges and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading through a self-serve crypto brokerage portal at on the Netcoins website.
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