GlobalBlock Launches New Crypto Portfolio Product GB10; Announces leadership transition

by Arthur · October 17, 2022

London, United Kingdom and Vancouver, British Columbia–(Newsfile Corp. – October 17, 2022) – GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the “Company“or”GlobalBlock“), is pleased to announce that following the successful launch of its new mobile trading app, it has launched the first of its new products: GB10. GB10 allows instant investment in a diversified portfolio of the top 10 cryptocurrencies weighted by market capitalization which is then rebalanced at the beginning of each month. This provides investors with balanced exposure to a basket of fast-growing digital assets and is ideal for those looking to have some crypto exposure across the largest, most established cryptocurrencies. The launch of GB10 coincides with the addition of DCA (Dollar Cost Averaging) capabilities for clients to set up an automated investment every month in GB10.

David Thomas, the new CEO of GlobalBlock (see below under “Leadership Transition”), commented: “After significant investment in our technology with the recent launch of our new mobile app, which continues to see strong downloads and conversion rates, we are excited to bring GB10 to market. Our decision to create this product was in response to demand from existing customers, and the recognition that many investors entering or currently in the crypto space want a product that provides a broad entry into the most established crypto projects. The GB10 product is the first of a few products we want to bring to market, so it’s great to have this first launch.”

Leadership transition

The company continues to see strong popularity of its new mobile app with download numbers exceeding expectations, and as a result several management changes have taken place. This transition will position the company for long-term success by leveraging its current technology, its new regulatory framework and strengthening its financial position by navigating the current state of the crypto markets via a broader cost overhaul.

The first change relates to outgoing CEO Rufus Round, who after confidently overseeing the transition of the business over the past year and a half and successfully completing several key milestones such as: last year’s business merger; the transition of the digital asset brokerage business to the EU; the launch of the new mobile app; and now the launch of GB10, has decided to scale back and pursue other opportunities in the digital assets and fintech area. Rufus also resigns as a member of the company’s board.

David Thomas, previously the company’s Chief Operating Officer, an existing board member and one of the original founders of GlobalBlock Ltd, has been appointed as the new CEO. Prior to GlobalBlock, David worked for 15 years in deliverable foreign exchange services and was a partner in this business until its final sale to a major private equity firm.

David Thomas, managing director and director of the company said, “Rufus has been instrumental in the completion of last year’s business combination and led GlobalBlock through its first fifteen months as a publicly traded digital asset broker poised to build on its successes so far. On behalf of the company’s board, I would like to thank Rufus for his hard work and dedication to GlobalBlock and wish him well in his future endeavours.“

Rufus Round’s outgoing CEO commented: “I have really enjoyed working with the team to establish GlobalBlock as a publicly traded crypto broker, now with the technology and regulatory framework from which to flourish. With the foundation laid for the business to benefit from greater adoption of digital assets in the future, I look forward to following their success in the years to come.”

The company also announces that Amaan Jalwa, Chief Financial Officer has left the company to pursue other opportunities that have become available to him. Samad Wali has been appointed CFO and Company Secretary of the company with immediate effect. Samad is a financial specialist with a strong focus on technology and digitalisation. He has worked on various fronts at the British Council, with his most recent role as head of financial planning and business analysis for the South Asia region. Samad holds an MBA in Finance from the University of Wales and is a certified SAP FICO consultant. Samad has previous experience of working with the company and its operations and is well equipped to provide the necessary continuity to this role.

Finally, Patrick Bullman has been appointed as a director of the company to fill the vacancy on the board resulting from the departure of the Rufus round. Patrick is one of the original founders of GlobalBlock Ltd. and has over 20 years of experience working in bond, share and CFD markets as a broker. In addition, he founded Peregrine & Black Capital in 2012 and became director of Peregrine & Black Investment Management in 2015.

Mr. Bullman has also been appointed to the Company’s Audit Committee, which now consists of Trevor Gabriel, Stuart Olley and Mr. Bullman.

ABOUT THE COMPANY

GlobalBlock Digital Asset Trading Limited is a publicly traded holding company (TSXV: BLOK) whose wholly-owned subsidiary, GlobalBlock Europe, UAB (is an EU-based digital asset broker offering a personal telephone brokerage service, trading platform and mobile app. GlobalBlock Europe, established by an experienced team of professionals in financial services, acts as a trusted agent serving digital asset needs of individuals, companies, institutional financial firms and intermediaries, providing best trade execution and safe custody of digital assets.At this time, clients or customers based in Lithuania and UK can be onboarded to their digital asset brokerage and trading services.

For further information please contact the company at:

David Thomas, Managing Director
c/o 65 Curzon Street, London, W1J 8PE, United Kingdom
Tel. +44 20 3307 3780
[email protected]

and http://www.globalblockdigital.com/
https://twitter.com/Globalblocknews
https://www.linkedin.com/company/globalblock/

Media contact
Angus Campbell
Quote Dewe Rogerson
[email protected]

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain information provided in this press release constitutes forward-looking statements or information. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend” , “could”, “perhaps”, “should”, “believe” and similar expressions. In particular, this press release contains forward-looking statements with respect to, among other things: the continued and successful development of the businesses, technologies and products of each of the Company and its subsidiaries, the adoption of the Company’s technologies, the continued use of digital assets, the effectiveness of the Company’s marketing plan, the exposure that the Company and its subsidiaries have for stablecoin and provide products and plans, future actions and future successes of the company, and its businesses, technologies and products described herein. Forward-looking statements are based on the opinions and expectations of the company’s management as of the effective date of such statements and, in certain cases, information provided or communicated by third parties. Although the company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, and that information obtained from third-party sources is reliable, they can give no assurance that these expectations will prove to be correct. Readers are cautioned not to rely on forward-looking statements included in this document, as no assurance can be given that the plans, intentions or expectations on which the forward-looking statements are based will occur. By their nature, forward-looking statements involve a number of assumptions, known and unknown risks and uncertainty factors that contribute to the possibility that predictions, forecasts, estimates and other forward-looking statements will not occur, which may lead to actual results in future periods varying. materially from any estimates or forecasts of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the company’s most recent management’s discussion and analysis, a copy of which is filed on SEDAR at www.sedar.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as of the date hereof and, except as otherwise required by law, the Company does not intend, or undertake any obligation, to update these forward-looking statements.

Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.