GlobalBlock Digital Asset Trading Ltd (TSX-V: BLOK, OTC: BLVDF) announced that the launch of its mobile trading application at the end of July 2022, on both the Apple App Store and the Google Play Store, began to generate significant new customers. ups for the company’s wholly owned subsidiary, GlobalBlock Europe, UAB (GBE), a digital asset broker.
The one-to-one cryptocurrency brokerage service, trading platform and mobile app provider said 1,288 downloads were recorded in August 2022, and GBE doubled its existing customer base.
The conversion rate of people who downloaded and proceeded to fully KYC (Know Your Customer) completed customers is 9% and the download-to-save rate is 26%, according to a statement.
READ: GlobalBlock Digital Asset Trading says GlobalBlock Europe (GBE) subsidiary has successfully launched its new mobile trading app
“Our first month rate of 26% should be a floor as we refine our engagement practices. GlobalBlock brand recognition is clearly having a positive effect in the face of significant overall market weakness,” said the CEO of GlobalBlock, Rufus Round, to shareholders.
“We have used current market conditions to lower our heads, increase the company’s IP (intellectual property), streamline our cost base, grow the customer base and prepare for the next recovery,” Round added.
The company said it believes the conversion metrics were above comparable industry averages.
Additionally, GlobalBlock reported that during this year’s industry-wide consolidation, GBE also managed to reduce its cost base following its successful operational migration to GBE in Lithuania.
The company added that it has also grown its intellectual property significantly, both through the development of the mobile trading application and the development of a proprietary data system, the “GlobalBlock Engine”, claiming that the data will improve reporting efficiency and streamline integration. new products and partners.
Founded in 2018 by an experienced team of financial services professionals, GlobalBlock Digital Asset Trading Limited acts as a trusted agent serving the digital asset needs of individuals, businesses, institutional financial firms and intermediaries, providing the best execution and safe custody of digital assets.
Contact Sean at sean@proactiveinvestors.com
