GCEX wants to disrupt FX industry with launch of 24/7 FX trading
“I think most of the demand for this will be from payment providers. If people are using credit cards at the weekend, for example, why should the payment providers have to wait until Monday morning to settle the transactions?”
GCEX has announced the launch of 24/7 FX trading for institutional and professional clients, mirroring its digital assets offering.
Founded in 2018 by CFH (now Finalto) co-founder Lars Holst, GCEX offers a wide range of products and technology solutions including White Label digital asset and FX platforms.
Besides being Founder and CEO of GCEX, Lars Holst is also Chairman of muinmos and Finovate, and Board Member of Metafused. Holst sees 24/7 FX trading as a significant move in an effort to change the FX industry.
FX closed on weekends no more
Lars Holst, Chief Executive Officer at GCEX, commented: “This is a significant announcement and another example of how GCEX is pushing boundaries and leading the way. It is the industry norm for FX shops to be closed at the weekend but we believe this will change and that money should be moving during the weekend, too.
“Adapting our offering to 24/7 FX trading has been relatively simple as we are already open all hours for crypto trading and are used to providing high levels of service at weekends. I think most of the demand for this will be from payment providers. If people are using credit cards at the weekend, for example, why should the payment providers have to wait until Monday morning to settle the transactions?”
GCEX’s digital asset and FX platform offering is supported by deep liquidity provided through partnerships with Tier 1 and trusted LPs, lending counterparties, and digital custody institutions.
The firm is regulated by the FCA in the UK and the FSA in Denmark, and recently announced provisional regulatory approval by the Virtual Assets Regulatory Authority in Dubai (VARA) to operate as a crypto exchange.
GCEX MENA has become a reality after being granted provisional regulatory approval by the VARA in April 2022 to operate as a crypto exchange. The firm is now in the process of applying for a license. To head the new office, the digital brokerage appointed Mehtap Önder as Managing Director at GCEX MENA, where she will be responsible for all operational aspects of the business in the MENA region.
GCEX enables brokers, funds and professional traders to access deep liquidity in digital assets and offers a range of technology solutions, including its flagship ‘Crypto In A Box‘ plug and play trading solution.
The white label solution comprises of a technology-agnostic platform that covers regulation, custody, safety of funds, liquidity, and technology (both backend and frontend).