GlobalBlock Digital Asset Trading Limited CEO David Thomas assured investors that the digital asset broker has no exposure to FTX, the cryptocurrency trading platform that went bust last week.
In a statement, Thomas and the firm said that, as a Canadian public company, GlobalBlock has to prove custody as one of many measures associated with its independently audited accounts.
GlobalBlock added that it “takes the safeguarding of clients assets extremely seriously.”
READ: GlobalBlock Digital Asset Trading reveals positive business and trading app update
The platform does not currently offer any yield products, nor does it lend out any client funds.
What’s more, the firm said it has “robust” security and custody measures in place to ensure clients' funds are protected.
“Clients' assets remain safe and easily accessible for trading or transferring purposes,” the company said in a statement.
"As a highly experienced team of financial services professionals who have had long and successful careers building FCA businesses in the UK, we founded GlobalBlock using the same disciplines and principles,” Thomas told shareholders.
“GlobalBlock has never deployed any client funds in any way other than directed by its clients. Working for our clients is central to our service driven ethos. Our focus on customer service provides our clients with reassurance that an expert is always just a telephone call away.”
The CEO added that GlobalBlock’s trading app continues to prove popular with downloads onto new Apple and Android devices.
GlobalBlock Europe UAB is a European Union based digital asset broker that provides a personalised telephone brokerage service, trading platform and mobile app for best execution trading and safe custody of digital assets.
Last week, FTX, FTX.US, Alameda Research and “approximately 130 affiliated companies” officially filed for Chapter 11 bankruptcy protection in the US, leaving customers with their funds held up in a lengthy bankruptcy process.
Contact Angela at angela@proactiveinvestors.com
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