GlobalBlock Provides Update on Market Volatility
No exposure to stablecoins or yield products demonstrates GlobalBlock's responsible approach to its service provision
London, United Kingdom and Vancouver, British Columbia - June 17, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Service led digital asset broker GlobalBlock Europe, UAB ("GBE"), an operating subsidiary of publicly listed GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the "Company" or "GlobalBlock"), is pleased to provide an update in the midst of the current crypto market conditions.
Whilst GlobalBlock does offer some stablecoins for its clients to trade, the business does not currently have any risk exposure to any stablecoin or yield products and as a result has not suffered any adverse effects from the recent seismic events that have led to the current downward trend in digital asset prices. The Company's focus on providing a service driven offering is allowing them to provide reassurance to customers that their assets are safe and easily accessible for trading or transferring purposes.
Rufus Round, CEO of GlobalBlock, said:
"GlobalBlock has seen similar market conditions on more than one occasion since its inception in 2018 and we have steered our clients through each and every one by providing them with the highest security and custody of their assets and our reassuringly human touch.
"The current climate is no different and it is our service led approach that makes us stand out from the competition. We remain on call to support our clients in their digital asset needs during these volatile times and as ever look optimistically towards the future as broader adoption of crypto continues."
ABOUT THE COMPANY
GlobalBlock Digital Asset Trading Limited is a publicly traded holding company (TSX Venture: BLOK) whose subsidiary, GlobalBlock Europe, UAB (https://www.globalblock.eu), is a European Union based digital asset broker that provides a personalised telephone brokerage service, trading platform and mobile app. Established by an experienced team of financial services professionals, GlobalBlock Europe, UAB acts as a trusted agent serving the digital asset needs of individuals, corporations, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets. At this time, clients or customers based in Lithuania and the UK can be onboarded to its digital asset broker and trading services.
For further information please contact the Company at:
Rufus Round, CEO
c/o 65 Curzon Street, London, W1J 8PE, United Kingdom
Tel. +44 20 3307 3795
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 and technologies of each of the Company and its subsidiaries, the continued adoption of digital assets, the exposure that the Company and its subsidiaries have to stablecoin and yield products and 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.
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