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Crypto Broker GlobalBlock Signs £32M Deal

Crypto Broker GlobalBlock Signs £32M Deal

Last updated 30th Nov 2022
Disclosure

UK and London based digital asset brokerage GlobalBlock has agreed to a business combination with Canadian-listed Helix Applications. Helix, a publicly listed company listed on Toronto’s TSX Venture exchange, has acquired the shares in GlobalBlock at a value of £32 million, subject to regulatory and stock exchange approval. Helix is a blockchain application and technologies developer that has been in discussions with GlobalBlock since March. Following this agreement Helix will change its name and the new entity will undertake the business of providing digital asset trading services via GlobalBlock’s digital asset trading platform, mobile app and personalized telephone broking service.

“Ever since we established GlobalBlock in 2018 we have been serving individuals and businesses with a secure platform to trade cryptocurrencies via our personalized telephone service, digital asset trading platform and mobile app,” GlobalBlock cofounder and director David Thomas said. “We believe that we are still at the beginning of the evolution of the digital asset industry. With our already established brokerage business and this business combination with Helix, we are very well placed to capitalize on a rapidly growing sector.”

Along with providing access to trading cryptocurrency across the mobile app and trading platform, GlobalBlock is committed to offering a customer focused telephone service. By combining their business with Helix’s they will look to broaden the portfolio of services to clients who are looking to diversify securely into digital assets.

“Having founded and built successful customer centric businesses in the investment and trading industry and now the cryptocurrency space, we are very excited about combining GlobalBlock with Helix,” GlobalBlock cofounder Karl Thompson said. “Our aim is to propel our growth and become a leader in the provision of digital asset trading services. We take customer service and protection incredibly seriously, understanding the value of focusing on a hand holding approach for our clients, especially as we are still at an early stage of digital asset adoption.”

GlobalBlock has embraced the recent additional regulatory requirements in this sector and has obtained temporary registration as a digital asset firm under the UK’s Financial Conduct Authority’s Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs).

Staff Writer

Staff Writer