BC Group CEO Hugh Madden Talks Revenue Growth, Digital Assets Market

Finance | 14 Oct 2019 9:00 am

- Company saw a 29.1 % year-on-year revenue increase from H1 2018

- Digital asset revenue grew 386.2% when compared to H2 2018

BC Group (BC Technology Group Limited, stock code: 863 HK), Asia’s leading publicly traded technology and digital asset company, recently announced its financial results for the first half of 2019 (H1 2019), during which it saw a revenue increase of 29.1% or RMB19.2 million compared to the same period the previous year.

Its digital asset revenues were also up 386.2% or RMB33.1 million when compared to H2 2018.

The company’s digital asset business earns fees through its trading services under the OSL brand, and recurring Software-as-a-Service (SaaS) revenues under the ANXONE brand.

Unique in the world as a listed, digital asset-focused company that is ‘Big-Four’-audited, the Group’s founders, including CEO Hugh Madden, are blockchain pioneers who have been active in the ecosystem since 2013.

Madden, who has two decades of experience in financial services, digital assets and technology, said,

“Digital assets have enormous growth potential. As of September 12, 2019, the total global market capitalization of all digital assets was around US$260 billion. The approximate size the digital securities market is estimated to reach US$11 trillion by 2024.”

When asked about the rapidly changing digital assets industry landscape, Madden said: “There’s a growing acceptance for digital assets across the globe. Institutions of all sizes, including major financial organizations and regulatory bodies, have entered or are entering the market at a rapid pace.”

BC Group aims to move from strength to strength and continue to grow its digital asset business.

“Having a competitive strategy and positioning correctly for upcoming regulations is critical for success,” said Madden. “Our leading products and services, as well as our stringent regulatory and compliance standards, have put BC Group in a prime position for success.”

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