Source: GlobalBlock Digital
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  • GlobalBlock Digital Asset Trading Limited (BLOK) has announced that GlobalBlock Europe, UAB is operationally ready
  • GlobalBlock Europe is the company’s EU-based and Lithuanian incorporated subsidiary
  • GBE is acting as a virtual asset service provider (VASP), being a virtual currency depository wallet operator and virtual currency exchange operator
  • The transition of the business to GBE provides the company with the certainty of business continuity and opens new potential markets within the EU
  • GlobalBlock is a publicly traded holding company
  • GlobalBlock Digital Asset Trading Ltd was up 10 per cent, trading at $0.22, at 1:41 PM

GlobalBlock Digital Asset Trading Limited (BLOK) has announced that its subsidiary GlobalBlock Europe is operationally ready.

GBE is now operating the company’s digital asset brokerage and trading services business.

GBE is acting as a virtual asset service provider (VASP), being a virtual currency depository wallet operator and virtual currency exchange operator, and has completed all the necessary legal and regulatory steps required to operate from Lithuania, including the appointment of an experienced Money Laundering Reporting Officer (MLRO).

The company’s VASP registration and MLRO have been in place ahead of schedule and new clients continue to onboard with GBE. All existing clients have been transitioned across to GBE.

Consequently, its UK incorporated subsidiary, GlobalBlock Limited, has ceased operating under the temporary registration regime in the United Kingdom.

The coming of GBE provides the company with the certainty of business continuity and at the same time opens new potential markets within the European Union.

“Now that we have established our European entity in a crypto friendly and fintech centric jurisdiction, we can build upon our foundations by continuing with our technology enhancements and developing our digital asset products and services,” stated Rufus Round, CEO of GlobalBlock.

“In conjunction with this will be the roll-out of our marketing activities that will focus on GlobalBlock ‘service driven’ offering, something that is lacking within the digital asset space and will provide us with a highly unique selling point to differentiate us favourably from the competition,” he added.

GBE is not a licensed financial services provider and is not supervised by the Bank of Lithuania.

GBE is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming from that.

GlobalBlock Digital Asset Trading Limited is a publicly traded holding company. 

GlobalBlock Digital Asset Trading Ltd was up 10 per cent, trading at $0.22, at 1:41 PM ET.

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