Dubai’s Virtual Asset Regulatory Authority (VARA) has awarded an Operational VASP Licence for VA Broker Dealer services to GC Exchange FZE (GCEX), a member of the GCEX Group.
Brokers, hedge funds, family offices, and professional traders can now access GCEX’s deep liquidity in digital assets and array of technology solutions as a Virtual Asset Service Provider (VASP) in the Emirate of Dubai. GCEX opened its Dubai office in July 2022 and received its MVP (Minimal Viable Product) Preparatory License from VARA in February 2023.
Through its patented XplorDigital trading solutions, which include a technology-agnostic platform encompassing regulation, regulated custody, fund safety, tier 1 liquidity, and technology (both back-end and front-end), GCEX makes digital assets more accessible to institutions. GCEX always segregates client assets and only collaborates with regulated institutional providers for digital safekeeping and staking.
Mehtap Önder, Managing Director, GCEX in Dubai, commented, “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.
“Being a regulated entity in the region is important to us – it’s the ideal way to demonstrate our commitment to adhering to international standards and implementing robust processes, with transparency and investor protection at the core of our offering. 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.”
   Institutional clients of GCEX Group have access to a wide range of trading solutions, spot trading and conversion of digital assets, as well as deep liquidity in FX and CFDs on digital assets. GCEX, which has its headquarters in London and other locations across the world, is registered with the Danish FSA and governed by the UK’s FCA. Among GCEX’s investors is True Global Ventures.
Please visit LinkedIn or gcexmena.com for further information.
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- Source: https://zycrypto.com/gcex-granted-operational-vasp-licence-from-dubais-virtual-assets-regulatory-authority-vara/
