Bigg Digital talks CRA reassessment

Executive Summary

• Bigg Digital Assets reported a material reduction in a Canada Revenue Agency (CRA) reassessment regarding Netcoins' 2018 GST/HST liabilities, reducing the total assessed amount by approximately 64% and significantly lowering contingent liabilities.
• Netcoins surpassed $1.0 billion in cumulative transaction volume for 2025, exceeding the full-year 2024 volume of $785 million, indicating strong user growth and institutional engagement.
• The company announced strategic operational enhancements, including Netcoins joining the BitGo Go Network for instant settlement, the launch of crypto lending integrations via APX Lending, and cost-cutting measures at subsidiary TerraZero Technologies.

Key Details

• CRA Reassessment Reduction:
  • The CRA issued a notice of reassessment reducing the GST/HST principal from $6,071,388 to $2,206,707 (a reduction of $3,864,681).
  • Total amount owing (including interest and penalties) decreased from $8,871,854 to $3,228,842, a reduction of $5,643,012.
  • The original assessment was based on transactional sales volume of $58,535,327 for 2018, whereas Netcoins reported transactional revenue of only $989,173 for that period.
  • The company intends to pursue further reductions to interest and penalties and remains in discussions with CRA's appeals division.
• Netcoins Transaction Volume:
  • Cumulative transaction volume in 2025 exceeded $1.0 billion.
  • This surpasses the full-year 2024 volume of $785 million.
• BitGo Go Network Integration:
  • Netcoins joined the BitGo Go Network to enable free, instant settlement of USD and digital currencies from BitGo’s insured, regulated cold storage.
  • This enhances institutional settlement capabilities for digital asset treasury (DAT) organizations and larger partners.
• Crypto Lending Integration:
  • Netcoins launched a dedicated in-app crypto lending page providing access to APX Lending's BTC and ETH loan platform.
  • Features include a built-in loan calculator and educational landing pages.
  • Full platform integration with APX Lending is on track for completion in the first half of 2026.
• TerraZero Technologies Updates:
  • Completed cost-cutting measures following the build of its custom Intraverse platform on Unity.
  • Reduced operating expenses.
  • Rolling out TerraZero's Render Streaming services to host Intraverse experiences via AWS and deliver them through partner/client channels.
  • Advancing a licensing strategy for its technology stack to unlock additional monetization pathways.
• Blockchain Intelligence Group:
  • Continues to deliver blockchain analytics, forensic investigation, and risk-assessment solutions to government agencies, exchanges, and enterprise customers.
• Bigg Digital CEO Interview Series:
  • The interview series, produced with Blockchain North, has reached an estimated 100,000+ audience members.

Notable Quotes

• "Integrating with the Go Network reinforces our commitment to building one of the most trusted and technologically advanced trading environments in Canada," said Fraser Matthews, president of Netcoins. "The ability to settle assets instantly -- anytime, with other leading institutions -- creates meaningful operational advantages for our partners and reflects the standard of service we aim to deliver."