Singapore’s True Global Ventures invests in UK crypto firm GCEX
Singapore-based venture capital firm True Global Ventures (TGV) has invested $4 million into GCEX, a crypto trading technology provider regulated by Britain’s Financial Conduct Authority (FCA).
The investment will enable GCEX team to scale its growth as a prime destination for brokers, funds and other professional traders wanting relevant technology and a seamless integration to access both FX and crypto liquidity.
This is the latest investment made by TGV’s blockchain equity fund which targets talented serial entrepreneurs through equity funding rounds into blockchain start-ups. The fund is dedicated to blockchain companies, primarily those operating in entertainment, infrastructure, financial services, data analytics and artificial intelligence.
The typical size of each investment made by True Global Ventures 4 Plus ranges from $3 million to $10 million. The fund often participates in late-stage funding rounds together with business angels, family offices, and entrepreneurs, many with co-investment rights in future equity rounds.
“We are excited to support one of the fastest-growing companies in this field. This is largely a greenfield market where GCEX can provide a regulated solution within both crypto and FX together. We believe that GCEX is on track to become a dominant global player,” said Dusan Stojanovic, Founding Partner of TGV4 Plus Fund.
“With the rapidly growing demand from institutions for trading digital assets and a surge of ‘shady’ businesses in this sector, one of the biggest problems brokers, funds and professional traders face in this industry is finding regulated and professional providers who can provide access to multiple trading venues and exchanges. GCEX solves this issue, facilitating the trading of digital assets for institutional clients,” he added.
FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages
GCEX holds an FCA dual licensing with FCA
According to its website, GCEX was established in 2018 in order to cater to the 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. Additionally, the offering 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 no stranger to the FX space as it has previously completed API integration with two of the leading bridge and institutional liquidity providers, Gold-i’s Matrix NETwork and oneZero.
Commenting the news, Lars GCEX CEO and founder Holst CFA said: “Brokers are looking for solutions and most institutions want to get started investing in digital assets without having to deal with issues like custody and blockchain directly. It naturally falls into our sweet spot to bridge the gap between institutional investors and cryptocurrency; through our partnerships with traditional FX houses and technology, institutions can gain crypto exposure through a trusted platform. The investment from TGV Plus provides us with much-needed capital to continue on our rapid growth trajectory while adhering to regulatory requirements and best practices.”
