GCEX expands in Asia Pacific with new office opening in Kuala Lumpur
GCEX, a digital asset and currencies technology platform for institutional and professional clients, has established a new office in Kuala Lumpur, Malaysia.
The FCA-regulated firm says the opening in Kuala Lumpur was a natural consequence of its globalisation strategy and its international network of partners. The office has been established to meet increasing demand in the Southeast Asia region for GCEX’s offering.
The company now has four locations worldwide, including Scotland, Denmark, and London, where it is headquartered. Its office in Copenhagen, which opened in September 2021, already has a team of six people. GCEX also plans to expand its team of developers with three new hires in Glasgow in the next couple of months.
The Malaysia operations will focus principally on the expansion of sales in the region, in addition to customer support. The region offers a large and diverse talent pool, with skill sets specialized in the convergence of financial services and technology. The move also comes a few weeks after Singapore-based venture capital firm True Global Ventures (TGV) invested $4 million into GCEX.
The initial team was already established
Lars Holst, Founder and CEO, GCEX, commented: “Expanding our global footprint into Asia is a significant development for GCEX and a key milestone in our growth strategy. We selected Kuala Lumpur as our Asia hub as we believe it is one of the Fintech capitals of Asia, with a strong pool of talent for us to access as we grow the business. The investment we received from True Global Ventures (TGV4 Plus) is helping to fuel our expansion, enabling us to capitalise on the growing demand we are seeing for our modular end-to-end plug and play trading platform for digital assets and FX.”
The first team member has already joined the Kuala Lumpur office, with four additional hires planned by May 2022. However, the focus extends beyond Malaysia, with a long-term vision of growing GCEX presence in other countries, all of which will be coordinated out of the newly created office.
According to its website, GCEX was established in 2018 in order to cater to demand for regulated exposure to the digital asset market. The company leverages its UK authorization to provide funds, brokers, asset managers, professional traders, and banks with compliant Fintech products, including AI applications. The offering also enables clients to automate on-boarding, offer and trade digital assets and forex with deep liquidity from top banks, as well as solutions for clearing.
Headquartered in London, GCEX (GC Exchange Limited) is also no stranger to the FX space as it has previously completed API integration with many bridge and institutional liquidity providers, Gold-i’s Matrix NETwork and oneZero.