Stapleton Capital changes name to Blockchain Worldwide sending share price soaring

 
Lynsey Barber
Follow Lynsey
TOPSHOT-US-MILITARY-MISSILE-TEST
The craze for anything and everything blockchain (and bitcoin) continues (Source: Getty)

Another day, another pivot to blockchain.

A little known London-listed company that specialises in telecoms has changed its name from Stapleton Capital to Blockchain Worldwide, sending shares rocketing by more than 100 per cent.

Read more: Shell just made its first investment in a blockchain startup

And the company, trading under the new ticker of BLOC, will now switch its attention to making investments in the blockchain space.

It said in a market update that the directors "believe the technology has the potential to cause major disruption and that they will focus the company's resources".

"We have seen a number of very exciting blockchain opportunities in recent months and believe the underlying technology has the potential to disrupt many industries around the world," said chairman Jon Hale.

"This change in strategy, and name to change to reflect this, could generate significant shareholder value if we are able to acquire one or more of these fascinating nascent technologies"

Read more: Bitcoin is a mere drop in the ocean of blockchain opportunities

The firm is just the latest in a growing list to jump on the blockchain bandwagon following the astonishing boom in bitcoin and other cryptocurrencies.

Shares in US firm Long Island Iced Teas rocketed more than 500 per cent after changing its name to Long Blockchain. Fellow Aim-listed firm On-line plc became Blockchain plc, sending shares surging nearly 400 per cent.

Related articles