skip to Main Content
Get your free newsletter: Actionable insight each morning for self-directed investors. 

UK and London based digital asset brokerage GlobalBlock has agreed what it is calling a business combination with Canadian listed Helix Applications (Helix). 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 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.

“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,” said David Thomas, Director and Co-Founder of GlobalBlock. “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 offering a customer focused telephone service.

By combining their business with Helix’s GlobalBlock says it will be able to broaden the portfolio of services to clients who are looking to diversify securely into digital assets.

“Our aim is to propel our growth and become a leader in the provision of digital asset trading services,” said Karl Thompson, Co-Founder of GlobalBlock. “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).

Having been founded by highly 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.

Related

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Graeme Andrew

Graeme Coles-Andrew

Graeme is Head of Technology at the Armchair Trader. He has worked in online financial investment publishing since 2000 as a website developer, advertising operations manager, data scientist and all-round go-to guy for online technical solutions.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

Comments

Subscribe for more stories like this, 8am weekdays - for free!


Get your free daily newsletter: 

Thanks to our Partners

Our partners are established, regulated businesses and we are grateful for their support.

Pepperstone
FP Markets
IG
Spreadex
WisdomTree
ActivTrades
Back To Top