Canada’s Helix buys UK crypto broker GlobalBlock for £32M
London based digital asset brokerage GlobalBlock has announced that it 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 (USD $45 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 2021. 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 personalised telephone broking service.
David Thomas, Director and Co-Founder of GlobalBlock said:
“Ever since we established GlobalBlock in 2018 we have been serving individuals and businesses with a secure platform to trade cryptocurrencies via our personalised telephone service, digital asset trading platform and mobile app. 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 capitalise on a rapidly growing sector.”
GlobalBlock has seen significant growth so far in 2021 with record trading volumes and clients trading in over 80 digital assets. 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.
Karl Thompson, Co-Founder of GlobalBlock said:
“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. 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 said it 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). Having been founded by experienced financial services professionals, GlobalBlock already undertakes stringent compliance measures when determining client identity and looking after customer assets.
GlobalBlock’s customer base includes individuals and corporations who wish to diversify into digital assets, whether that is trading, accepting payment in crypto-assets such as Bitcoin or safe custody.
GlobalBlock is a UK based digital asset broker that provides a personalised telephone broking service, trading platform and mobile app. Established in 2018 by an experienced team of financial services professionals, GlobalBlock acts as a trusted agent serving the cryptocurrency needs of individuals, corporates, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets.