Singapore, Singapore, November 22, 2023, Chainwire
GC Exchange FZE (GCEX), part of the GCEX Group, has obtained a VASP operational license for VA broker services from the Virtual Asset Regulatory Authority (VARA) in Dubai.
GCEX, which opened its Dubai office in July 2022 and received its MVP (Minimal Viable Product) preparatory license from VARA in February 2023, can now start its market operations as a Virtual Asset Service Provider (VASP) in the emirate of Dubai, allowing brokers, hedge funds, family offices and professional traders to access its significant liquidity in digital assets and its range of technology solutions.
GCEX facilitates institutional access to digital assets through its proprietary XplorDigital trading solutions, which include a technology-agnostic platform covering regulation, regulated custody, fund security, Tier 1 liquidity and technology (at both back-end and front-end). GCEX only partners with regulated institutional digital custody and staking providers and always segregates client funds.
Mehtap Önder, Managing Director of GCEX in Dubai, commented: “VARA is leading the way in the global digital assets sector, and we are extremely proud to be one of the first companies to receive a VASP operating license to provide a broker-dealer of virtual assets. services and the first company to obtain authorization to operate with a customer money account, underlining our focus on customer protection.
“Being a regulated entity in the region is important to us – it is the ideal way to demonstrate our commitment to adhering to international standards and implementing robust processes, with transparency and investor protection at the heart of our offering . This is a major milestone for our business and essential to GCEX’s growth strategy, allowing us to have a stronger presence in the region.
GCEX Group provides institutional clients with access to significant liquidity in FX and CFDs on digital assets, as well as spot trading and conversion of digital assets as well as a wide range of trading solutions. Headquartered in London with multiple offices around the world, GCEX is regulated by the UK FCA and registered with the Danish FSA. True Global Ventures invests in GCEX.
Founded in 2018, GCEX is a pioneering regulated digital prime broker with a premier digital asset and foreign exchange platform for institutional and professional clients. GCEX has partnerships with trusted Tier 1 liquidity providers, leading counterparties and regulated digital asset custody institutions. GCEX offers a wide range of products and technology solutions, including white labels.
GCEX is the trading name of GC Exchange Limited, GC Exchange Fondsmæglerselskab A/S, GC Exchange A/S and GC Exchange FZE. GC Exchange Limited, a company incorporated in England and Wales (No11382809) whose registered office is at 75 King William Street, London, EC4N 7BE, offers FX and CFD products. GC Exchange Limited is authorized and regulated by the Financial Conduct Authority (FRN 828730).
Digital asset services are provided by GC Exchange A/S, a company incorporated in Denmark (CVR 43088777) whose address is Amager Strandvej 390, 2770, Kastrup. GC Exchange A/S is licensed by the Danish Financial Supervisory Authority as a foreign exchange office (FTID 45020) and registered as a virtual asset service provider (FTID 17524) under the AML regulations.
GC Exchange Fondsmæglerselskab A/S, a company incorporated in Denmark (CVR 43345052) whose address is Amager Strandvej 390, 2770, Kastrup. GC Exchange Fondsmæglerselskab A/S is authorized and regulated by the Danish Financial Supervisory Authority as an investment firm to offer FX and CFD products.
GC Exchange FZE is incorporated as a Limited Liability Free Zone Establishment under the Dubai World Trade Center Authority with registration number 1896. GC Exchange FZE has been granted a Virtual Asset Service Provider License by the Dubai Virtual Assets Regulatory Authority. For more information visit:
Created in March 2022, following the effect of Law No. 4 of 2022, VARA is the competent entity responsible for regulating, supervising and supervising VA and VA activities in all areas of the Emirate of Dubai, including Special Development Zones and Free Zones, but excluding the Center international financier of Dubai. VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and set international standards for the governance of the virtual assets sector, while supporting the vision of a borderless economy.
Wigwam PR for GCEX
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