GC Exchange
FZE (GCEX), part of the GCEX Group, has been granted an Operational VASP
Licence for VA Broker Dealer services from Dubai’s Virtual Asset Regulatory
Authority (VARA).
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 market operations as a
Virtual Asset Service Provider (VASP) in the Emirate of Dubai, enabling brokers,
hedge funds, family offices and professional traders to access its deep
liquidity in digital assets and range of technology solutions.
GCEX facilitates
institutional access to digital assets through its proprietary XplorDigital
trading solutions, which comprises of a technology-agnostic platform covering
regulation, regulated custody, the safety of funds, tier 1 liquidity and
technology (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, GCEX in Dubai, commented, “VARA is leading the way in the global
digital asset industry, and we are extremely proud to be one of the first firms
to receive a VASP Operating Licence to provide Virtual Asset Broker-Dealer services
and the first firm to gain approval to operate with a client money account,
highlighting our focus on client protection.“Being a regulated entity in the
region is important to us – it’s the ideal way to demonstrate our commitment to
adhering to international standards and implementing robust processes, with
transparency and investor protection at the core of our offering. This is a
major milestone for our business and is critical to GCEX’s growth strategy,
enabling us to have a stronger presence in the
region.”
GCEX Group enables
institutional clients to access deep liquidity in FX and CFDs on digital
assets, as well as digital assets spot trading and conversion as well as a
broad range of trading solutions. Headquartered in London, with multiple
offices across the globe, GCEX is regulated by the UK’s FCA and registered with
the Danish FSA. True Global Ventures are investors in GCEX.
About GCEX
Founded in 2018, GCEX (https://prime.gc.exchange/) is a pioneering regulated digital prime brokerage with a
best-of-breed digital asset and FX platform for institutional and professional
clients. GCEX has partnerships with Tier 1 trusted Liquidity Providers, leading
counterparties and regulated digital custody asset institutions. GCEX offers a
wide range of products and technology solutions including White Labels.
GCEX is a 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) with registered address at 75 King William Street, London, EC4N
7BE provides FX and CFDs products. GC Exchange Limited is authorised 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)
with address at Amager Strandvej 390, 2770, Kastrup. GC Exchange A/S is
authorised by the Danish Financial Supervisory Authority as a Currency Exchange
(FTID 45020) and registered as a Virtual Asset Service Provider (FTID 17524)
under the AML regulation.
GC Exchange
Fondsmæglerselskab A/S, a company incorporated in Denmark (CVR 43345052) with
address at Amager Strandvej 390, 2770, Kastrup. GC Exchange Fondsmæglerselskab
A/S is authorised 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 Licence by the Dubai Virtual Assets
Regulatory Authority.
About VARA
Established in March 2022, following
the effect of Law No.4 of 2022, VARA is the competent entity in charge of
regulating, supervising, and overseeing VAs and VA Activities in all zones
across the Emirate of Dubai, including Special Development Zones and Free Zones
but excluding the Dubai International Financial Centre. VARA plays a central
role in creating Dubai’s advanced legal framework to protect investors and
establish international standards for Virtual Asset industry governance, while
supporting the vision for a borderless economy.