GC Exchange FZE (GCEX), a subsidiary of the GCEX Group, has been granted an Operational VASP Licence by Dubai’s Virtual Asset Regulatory Authority (VARA) for VA Broker-Dealer services.
This developmens comes after GCEX opened its Dubai office in July 2022 and received a Minimal Viable Product (MVP) Preparatory License from VARA in February 2023.
The new license enables GCEX to operate as a Virtual Asset Service Provider (VASP) in Dubai, offering services to brokers, hedge funds, family offices, and professional traders, with access to deep liquidity in digital assets and a suite of technology solutions.
GCEX’s proprietary XplorDigital trading solutions provide institutional access to digital assets, encompassing regulation, regulated custody, fund safety, and tier 1 liquidity.
The company partners exclusively with regulated institutional digital custody and staking providers, always segregating client funds for enhanced security.
Mehtap Önder, Managing Director of GCEX in Dubai, expressed pride in being among the first to receive the VASP Operating Licence. This includes approval to operate with a client money account, highlighting GCEX’s focus on client protection.
Önder emphasized the significance of being a regulated entity in the region, committed to international standards, transparency, and investor protection, crucial for GCEX’s regional growth and presence.
GCEX, headquartered in London and regulated by the UK’s Financial Conduct Authority and the Danish Financial Supervisory Authority, provides institutional clients access to liquidity in FX and CFDs on digital assets, spot trading, and conversion, among other trading solutions.
The company’s global footprint is supported by investors like True Global Ventures.
Founded in 2018, GCEX is a regulated digital prime brokerage offering a digital asset and FX platform for institutional and professional clients. The company partners with Tier 1 Liquidity Providers and regulated digital custody asset institutions, offering a wide range of products and technology solutions, including White Labels.