GlobalBlock Reports Significant Key Metric Increases to End November 2021
- GlobalBlock Digital Asset Trading reports unaudited Key Performance Indicators (KPIs) to end November 2021 -
- KPIs demonstrate GlobalBlock's strong position as service driven provider of crypto trading services to servicing HNWIs -
London, United Kingdom and Vancouver, British Columbia--(Newsfile Corp. - January 10, 2022) - GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the "Company" or "GlobalBlock") is pleased to announce Company's wholly owned operating subsidiary, GlobalBlock Limited ("GlobalBlock UK") has seen a significant increase in business activity. This increase has materialised in the absence of any meaningful marketing activities to acquire new customers, which is scheduled to ramp up in Q1 2022 once the new trading app has been launched.
The following are available in graphic form on our corporate website: https://www.globalblockdigital.com/investor-information.
2021 Period Highlights (unaudited) and related growth / change:
|Average Trade Size**||Mar - Nov||CAD $106,634|
|Total Client Assets*** Held||Mar - Nov||CAD $21.4 to $43.4m: +103%|
|Total Active Clients****||Jan - Nov||186 to 431: +132%|
|Total Trades per month||Jul - Nov||163 to 719: +341%|
|Revenue per month||Jul - Nov||CAD $135k to $274k: +104%|
*The Company completed its business combination with GlobalBlock UK in July 2021 and continues to integrate the businesses and refine the internal procedures required of a public company. As such, it has been determined that the differing periods disclosed above (rather than a uniform period of for example, Jul - Nov) provides a more accurate picture of the Company's performance, and in some circumstances include the crypto market decline from March to July 2021.
** Value of all trades divided by number of trades over the period.
***Client Assets is defined as the total of fiat and digital assets held for clients calculated at each month end.
**** An active client is someone who traded with GlobalBlock.
Rufus Round, CEO at the Company, said:
"2021 was a very exciting year for GlobalBlock and with digital assets becoming more widely adopted, it has allowed us to build a solid foundation for the future. The KPIs demonstrate the effectiveness of our primary key commercial differentiator, which is targeting High Net Worth Individuals with our service led proposition. This success to date has been achieved without undertaking any considerable marketing or communications activity, something we plan to commence in Q1 2022 in conjunction with the launch of enhanced technology that will be foundational for our growth."
ABOUT THE COMPANY
GlobalBlock Digital Asset Trading Limited is a publicly traded holding company (TSXV: BLOK) whose wholly owned subsidiary, GlobalBlock Limited (https://www.globalblock.co.uk), is a United Kingdom based digital asset broker that provides a personalised telephone brokerage service, trading platform and mobile app. Established in 2018 by an experienced team of financial services professionals, GlobalBlock Limited acts as a trusted agent serving the digital asset needs of individuals, corporates, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets.
GlobalBlock Limited has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business until 31st March 2022, pending the determination of the application by the Financial Conduct Authority. At this time, GlobalBlock Limited only accepts United Kingdom and Ireland resident clients or customers for its digital asset broker or trading services.
For further information please contact the Company at:
Rufus Round, CEO
c/o 65 Curzon Street, London, W1J 8PE, United Kingdom
Tel. +00 44 20 3286 2904
Citigate Dewe Rogerson
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news 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", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the continued and successful development of the businesses of each of the Company and GlobalBlock Limited, the ability of GlobalBlock Limited to obtain the applicable regulatory approvals (including permanent registration with the Financial Conduct Authority in the United Kingdom) to continue to conduct its business and other information concerning the intentions, plans, future action and future successes of the Company, and its businesses, technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections 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 at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109520