GCEX acquires EU passport to further expand white label solution, ‘Crypto In A Box’

Rick Steves

The ‘Crypto In A Box’ plug and play solution features a technology-agnostic platform which covers regulation, custody, safety of funds, liquidity and technology (both backend and frontend).

GCEX has been granted two licenses by the Danish Financial Supervisory Authority (FSA), a Virtual Asset Service Provider (VASP) license and an authorisation to provide currency exchange to professional clients.

The FCA and FSA regulated digital brokerage offers a best-of-breed digital asset and FX platform with partnerships with Tier 1, trusted Liquidity Providers, lending counterparties and digital custody asset institutions.

The firm provides a wide range of products and technology solutions including White Labels to enables brokers, funds and professional traders to access deep liquidity in digital assets and FX,

Very important for us to be regulated in an EU country

Lars Holst, Founder and Chief Executive Officer at GCEX, said: “It is a priority for GCEX to have multi-jurisdictional regulatory coverage as this gives clients the choice of trading with the regulated entity which best suits their requirements. As Brexit has completely changed the landscape for UK regulated brokerages in terms of passporting, we believe it is very important for us to be regulated in an EU country. The Danish FSA license, therefore, is a major milestone for the business. The fact that we have permission to run a crypto exchange globally from Denmark is also very significant.”

The VASP license grants GCEX permission to provide clients with services such as:

– exchange between virtual currencies and fiat currencies

– exchange between one or more types of virtual currency

– transfer of virtual currencies

GCEX, which currently offers more than 40 coins and tokens as well as FX liquidity from Tier 1 providers, has offices in London, Copenhagen, Glasgow and Kuala Lumpur.

The fintech firm boasts a top of the line white label offering. The ‘Crypto In A Box’ plug and play solution comprises a technology-agnostic platform which covers regulation, custody, safety of funds, liquidity and technology (both backend and frontend).

The solution features automated onboarding, offer and trade digital assets, FX & CFD Indices, with deep streaming liquidity and solutions for clearing.

Michael Aagaard, Managing Director, GCEX Denmark, commented: “Being a Danish authorised entity gives further credibility to our offering. We are now looking at expanding our operations in Denmark and will be growing our team across all functions.”

Aagaard was recently hired from FX brokerage firm OANDA, where he played an active role in OANDA’s digital asset product development process, advising on overall strategy and develop connectivity to services providers within the cryptocurrency ecosystem.

Aagaard held a variety of executive positions during his 20 years with Saxo Bank. During this long tenure, he worked his way up through several senior roles with the firm, culminating with the position of Head of Foreign Exchange. In this role, Michael was responsible for development and strategy of the FX products (Spot, Forwards, Swaps, Options and Cryptos).

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<