GlobalBlock Digital Asset Trading Ltd (TSX-V:BLOK, OTC:BLVDF) announced that it has launched GB10, which allows customers to invest in the top 10 cryptocurrencies on its mobile trading app, and has made a number of changes to its leadership.
The company said this new product will give investors a balanced exposure to a basket of digital assets with growing momentum and is ideal for those wishing to have some exposure to crypto across the largest, most established cryptocurrencies.
New GlobalBlock CEO David Thomas noted the company is pleased to bring GB10 to the market.
“Our decision to create this product was in response to demand from existing clients, and the realisation that many investors entering or currently in the crypto space want a product that gives a broad entry point to the most established crypto projects. The GB10 product is the first of a few products we are looking to bring to market, so it is great to have this first one launched,” Thomas said in a statement.
The launch of GB10 coincides with the addition of dollar cost averaging capabilities for clients to set up an automated investment each month into GB10, according to London, England and Vancouver-based GlobalBlock.
The company said the download numbers of its mobile app are exceeding expectations and as a result, several leadership changes have taken place.
Rufus Round is stepping down as CEO to pursue other opportunities in fintech. According to GlobalBlock, Round completed the company’s transition of the digital asset brokerage business to the European Union, and launched the mobile app and GB10.
Rufus has been instrumental in the completion of last year’s business combination and leading GlobalBlock through its first 15 months as a publicly-listed digital asset broker that is ready to build on its successes to date,” said Thomas.
Former COO David Thomas, one of the original founders, has been appointed the new CEO. Prior to GlobalBlock, Thomas worked for 15 years within the deliverable foreign exchange services and was a partner within that business until its eventual sale to a major private equity firm, according to the company.
The company also said that CFO Amaan Jalwa has departed and that Samad Wali has been appointed as new CFO effective immediately.
Wali is a finance specialist with a strong focus on technology and digitization. He has worked on different fronts at the British Council, with his last role working as the head of financial planning and business analysis for the South Asia region. Wali holds an MBA in Finance degree from University of Wales and is a certified SAP FICO consultant.
Patrick Bullman has been appointed as a director to fill the vacant seat on the board resulting from the departure of Round, according to GlobalBlock. Bullman will sit on the board’s audit committee.
Bullman is one of the original founders of GlobalBlock and has over 20 years of experience working in bond, equity and CFD markets as a broker. Additionally, he founded Peregrine & Black Capital in 2012 and became a director of Peregrine & Black Investment Management in 2015, the company added.
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