CompaniesCrypto ExchangesEditor ChoicePolicies & Regulations

GC Exchange FZE Secures Operational VASP License and Approval for Operating with a Client Money Account, a Historic First in Dubai

GC Exchange FZE (GCEX), a part of the GCEX Group, has recently been issued an Operational VASP License for VA Broker Dealer services by Dubai’s Virtual Asset Regulatory Authority (VARA).

Following the opening of its Dubai office in July 2022 and the reception of its MVP (Minimal Viable Product) Preparatory License from VARA in February 2023, GCEX is now authorized to commence market operations as a Virtual Asset Service Provider (VASP) in Dubai.

This allows brokers, hedge funds, family offices, and professional traders to access GCEX’s extensive liquidity in digital assets and a suite of technology solutions.

GCEX facilitates institutional access to digital assets through its proprietary XplorDigital trading solutions, featuring a technology-agnostic platform encompassing regulation, regulated custody, fund safety, tier 1 liquidity, and comprehensive technology (both back-end and front-end).

Notably, GCEX exclusively collaborates with regulated institutional digital custody and staking providers, maintaining the segregation of client funds.

Mehtap Önder, Managing Director of GCEX in Dubai, expressed pride in being among the first firms to obtain a VASP Operating License for Virtual Asset Broker-Dealer services and the first to secure approval for operating with a client money account.

Önder emphasized the significance of regulatory compliance, highlighting it as a demonstration of the company’s commitment to international standards, robust processes, transparency, and investor protection. This achievement is viewed as a major milestone for GCEX’s growth strategy, allowing for a stronger presence in the region.

GCEX Group, headquartered in London and regulated by the UK’s FCA while also registered with the Danish FSA, enables institutional clients to access deep liquidity in FX and CFDs on digital assets.

It is worth noting that True Global Ventures are investors in GCEX.

News Desk

Unlock News Desk, is a group of Blockchain and Crypto enthusiastic young people, working to keep Unlock readers up to date with the industry news. Connect with the team via email: info(@)

Related Articles

Back to top button