- New trading app sees significant number of downloads in first two months since launch -
- New client acquisitions resulting from renewed marketing positions GlobalBlock well for future sector-wide growth -
London, United Kingdom and Vancouver, British Columbia – GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the "Company" or "GlobalBlock"), is pleased to announce that the launch of its mobile trading app in late July 2022, on both Apple’s App store and Google’s Play store, has started to yield significant new client sign-ups for the Company’s wholly-owned operating subsidiary, GlobalBlock Europe, UAB (“GBE”), a service led digital asset broker. Across both platforms and with a very targeted, cost-effective marketing spend, 1288 downloads were registered during August 2022. Accounting for bots and existing client downloads, GBE has doubled its existing client base and the progress for September 2022 so far, is equally encouraging. The Company notes that the conversion rate of people who downloaded and proceeded to fully KYC (Know Your Customer) completed clients is 9% and the rate of download to registration is 26%. The Company believes these conversion metrics are higher than comparable industry averages. Globalblock’s mobile trading app was developed in house using a highly flexible and cost-effective technology team.
During this year’s industry-wide consolidation, GBE has also managed to reduce its cost base following the successful completion of its operational migration to GBE in Lithuania. The Company has also significantly grown its intellectual property, through both the development of the mobile trading app and the development of a propriety data system, the ‘GlobalBlock Engine’. This data engine will drive reporting efficiencies as well as streamline the integration of new products and partners.
Rufus Round, CEO of GlobalBlock, commented:
“Given that online marketing generally achieves customer engagement levels of 5% with finance apps generally at 20%, our app download results after nearly two months are extremely encouraging. Our first month rate of 26% should be a floor as we hone our engagement practices. GlobalBlock’s brand recognition is clearly having a positive effect in the face of significant general market weakness.
“Crypto is here for the long run, our clients both existing and new are testament to this. We have used current market conditions to get our heads down, increase the company’s IP, streamline our cost base, grow the client base, and prepare for the next up-swing.”
ABOUT THE COMPANY
GlobalBlock Digital Asset Trading Limited is a publicly traded holding company (TSX Venture: BLOK) whose wholly-owned operating 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
https://globalblock.eu/ and http://www.globalblockdigital.com/
Citigate Dewe Rogerson
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