London, United Kingdom and Vancouver, British Columbia--(Newsfile Corp. - May 25, 2022) - GlobalBlock Digital Asset Trading Limited (TSXV: BLOK) (OTC Pink: BLVDF) (FSE: BD4) (the "Company" or "GlobalBlock") is pleased to announce that GlobalBlock Europe, UAB ("GBE"), its European Union based and Lithuanian incorporated subsidiary is operationally ready. Effective today the Company's digital asset brokerage and trading services business is being operated by GBE. 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.
The establishment of GBE and the transition of the business to GBE provides the Company with the certainty of business continuity and at the same time opens new potential markets within the European Union.
Rufus Round, CEO of GlobalBlock, said:
"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. In conjunction with this...
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