GC Exchange (GCEX) Receives Operational VASP License From Dubai’s Virtual Assets Regulatory Authority
November 22, 2023 – Singapore, Singapore
GC Exchange FZE (GCEX), part of the GCEX Group, has been granted an operational VASP (virtual asset service provider) license for VA broker dealer services from Dubai’s VARA (Virtual Asset Regulatory Authority).
GCEX, which established its Dubai office in July 2022 and received its MVP (minimal viable product) preparatory license from VARA in February 2023, can now begin operating as a VASP in the Emirate of Dubai. This enables access to its deep liquidity in digital assets and range of technology solutions for brokers, hedge funds, family offices, and professional traders.
GCEX provides institutional access to digital assets through its proprietary XplorDigital trading solutions, with emphasis on regulation, regulated custody, fund safety, tier one liquidity, and technology, both back-end and front-end.
GCEX collaborates only with regulated institutional digital custody and staking providers and always keeps client funds segregated.
Regulated and Committed to Industry Standards
Mehtap Önder, managing director of GCEX in Dubai, stresses the significance of being among the first firms to receive a VASP operating license, providing virtual asset broker-dealer services and gaining approval to operate with a client money account, highlighting the company’s focus on client protection. Being a regulated entity in the region demonstrates commitment to adhering to international standards and implementing robust processes, with transparency and investor protection at the core of the firm’s offering.
GCEX Group offers institutional clients deep liquidity in FX and CFDs on digital assets as well as digital assets spot trading and conversion, with a wide range of trading solutions available. Headquartered in London, GCEX is regulated by the UK’s FCA and registered with the Danish FSA. Investors in GCEX include True Global Ventures.
About GCEX
GCEX was established in 2018 as a regulated digital prime brokerage with a best-of-breed digital asset and FX platform for institutional and professional clients. The company has partnerships with trusted liquidity providers, leading counterparties, and regulated digital custody asset institutions, offering 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.
About VARA
VARA was established in March 2022 as 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 Center. Their goal is to establish international standards for virtual asset industry governance while supporting the vision for a borderless economy.
Contact
Vanessa Green, Wigwam PR for GCEX
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Hot Take
GC Exchange (GCEX) has become one of the few institutions to receive a VASP license for VA broker dealer services from Dubai’s VARA (Virtual Asset Regulatory Authority). This allows the company to start operating as a VASP in Dubai, providing institutional access to deep liquidity in digital assets. Furthermore, this licensing has solidified GCEX’s commitment to international standards and investor protection, helping them gain a stronger presence in the region.
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