Dubai’s virtual asset space gains a new titan: GCEX granted operational VASP licence by VARA
GCEX is now poised to commence market operations as a Virtual Asset Service Provider (VASP) in the Emirate of Dubai. This development is set to benefit brokers, hedge funds, family offices, and professional traders, granting them access to GCEX’s deep liquidity in digital assets and a plethora of technology solutions.
GC Exchange FZE (GCEX), a part of the GCEX Group, has successfully secured an Operational VASP Licence for Virtual Asset (VA) Broker-Dealer services from Dubai’s Virtual Asset Regulatory Authority (VARA).
This milestone follows GCEX’s establishment of its Dubai office in July 2022 and the acquisition of its MVP (Minimal Viable Product) Preparatory License from VARA in February 2023.
GCEX offers digital asset liquidity and tech to brokers, hedge funds, family offices, and professional traders
GCEX is now poised to commence market operations as a Virtual Asset Service Provider (VASP) in the Emirate of Dubai. This development is set to benefit brokers, hedge funds, family offices, and professional traders, granting them access to GCEX’s deep liquidity in digital assets and a plethora of technology solutions.
The company has distinguished itself by facilitating institutional access to digital assets through its proprietary XplorDigital trading solutions. This platform is technology-agnostic and encompasses regulation, regulated custody, fund safety, tier 1 liquidity, and comprehensive technology solutions (including both back-end and front-end systems).
Notably, GCEX adheres to strict regulatory standards, partnering exclusively with regulated institutional digital custody and staking providers. Furthermore, it maintains a strict policy of segregating client funds, underscoring its commitment to client protection and regulatory compliance.
VASP Operating License to provide Virtual Asset Broker-Dealer services
Mehtap Önder, Managing Director of GCEX in Dubai, shared her views on this achievement. “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,” she stated.
Önder emphasized the significance of being a regulated entity in the region, highlighting the commitment to adhering to international standards and implementing robust processes. She noted that transparency and investor protection are central to GCEX’s offerings. “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,” Önder added.
The GCEX Group, with its headquarters in London and offices worldwide, is regulated by the UK’s Financial Conduct Authority and registered with the Danish FSA.
Its investor base includes prominent entities like True Global Ventures. The group offers institutional clients extensive services in FX and CFDs on digital assets, spot trading, conversion, and a broad spectrum of trading solutions.
Founded in 2018, GCEX has emerged as a pioneering regulated digital prime brokerage. It offers a best-of-breed digital asset and FX platform tailored for institutional and professional clients. With partnerships spanning Tier 1 Liquidity Providers, leading counterparties, and regulated digital custody asset institutions, GCEX offers a comprehensive range of products and technology solutions, including White Labels.
GCEX operates under several entities, each regulated by respective authorities, ensuring a robust and compliant framework for their operations in different jurisdictions. This includes GC Exchange Limited in England and Wales, GC Exchange A/S and GC Exchange Fondsmæglerselskab A/S in Denmark, and GC Exchange FZE in Dubai, each authorized and regulated by the relevant financial supervisory authorities.
