GlobalBlock, a London-based cryptocurrency brokerage, announced today that the company has agreed to a business combination with Helix Applications, a blockchain technology company listed in Canada.
According to an official announcement shared with Finance Magnates, Helix has acquired £32 million worth of shares in GlobalBlock. The latest acquisition of shares is subject to regulatory and stock exchange approval.
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GlobalBlock highlighted that Helix has been in discussions with the company since March 2021. According to the latest deal, Helix will change its name and the company will provide cryptocurrency trading services through GlobalBlock’s digital asset trading platform and mobile app under the new entity.
Commenting on the latest announcement, 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 personalized 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 capitalize on a rapidly growing sector.”
During the latest announcement, the cryptocurrency broker highlighted significant growth in 2021 amid a rise in the popularity of digital currencies. The company saw record trading volumes as clients traded more than 80 digital assets.
Portfolio Diversification
GlobalBlock mentioned that the company is planning to expand its services through the latest partnership with Helix to facilitate clients in portfolio diversification. The company’s client base includes individual and institutional clients who wish to diversify 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. 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,” Karl Thompson, Co-Founder of GlobalBlock mentioned in the press release.