Block One Capital Inc. (TSXV: BLOK, OTCQB: BKPPF Frankfurt: ES3), an investment company focused on early stage and high growth opportunities in the blockchain sector, is pleased to provide the following corporate update.
Finzat Block LLC (“Finzat”), a Block One Capital fin-tech portfolio company, has formed a strategic partnership with Thomas Ho Company Ltd. (“THC”), to provide the first-ever loan transaction capabilities built on blockchain technologies. THC is a New York based nationally recognized leader in asset-liability management and whole loan trading.
Finzat and THC’s network, driven by Smart Contract technologies and blockchain applications, is designed to streamline the participants’ operation, strengthen security protocols, shorten transaction time and ultimately increase profitability. Community banks and credit unions lacking scale to fully access these benefits on their own can now have the opportunity to do so through this network.
“Dr. Ho is a proven expert in whole loan trading and balance sheet analysis. We believe that the synergies created between Dr. Ho, when combined with Finzat’s own strengths in blockchain technology, are substantial. This new partnership has significant possibilities to create a meaningful blockchain network effect,” said Dr. Gnanesh Coomaraswamy, Finzat CEO.
Adding recently named senior advisor Alex J. Pollock’s expertise in mortgage markets and strategic advice to Dr. Thomas Ho’s long and successful track record in financial risk management and loan trading, gives Finzat distinct advantages as it looks to offer much needed competition in the approximate $10 trillion US residential mortgage market. As President of the Federal Home Loan Bank of Chicago, Mr. Pollock created the highly successful MPF mortgage acquisition program. Finzat executives Michael Moore and Dr. Gnanesh Coomaraswamy were also part of the MPF senior team. The Federal Home Loan Bank mortgage acquisition programs total well over $55 Billion today.
“THC is delighted to partner with Finzat, whose management team has a track record of outstanding achievement in the mortgage market and has acquired utility blockchain technologies. We expect that Finzat will complement THC’s network of asset-liability management analytical and transactional technologies, which, in turn, will be greatly beneficial to our clients,” said Dr. Thomas Ho, president of THC.
About Block One Capital Inc.
Block One Capital. is an investment company focused on early stage and high growth opportunities in the blockchain sector. Block One Capital is a listed investment issuer on the TSX Venture Exchange: BLOK. Block One Capital seeks to invest in early stage blockchain technologies at attractive valuations. Block One Capital seeks to access attractive pre-token issuance blockchain equity investments for its investors. Block One Capital seeks to acquire a significant minority stake when possible. Utilizing our accomplished management, director, and advisory team, Block One Capital seeks to provide investors with a diversified basket of blockchain exposure.
For more information on Block One Capital, please visit the Company's website at www.blockonecap.com.
Chief Executive Officer
This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to Block One Capital's investment focus, the Company's expectations and estimates regarding the profitability of Bitcoin mining, including expected global hashrate and Bitcoin prices, and the Company's plans to exit the Bitcoin mining business. Although Block One Capital believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include general economic, market or business conditions, including the general acceptability of blockchain, risks associated with regulatory changes and the retail sector generally, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks and receipt of necessary TSX Venture Exchange approvals. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Block One Capital Inc.
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