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GCEX has been granted a VASP license by the Dubai Virtual Asset Regulatory Authority.

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GC Exchange FZE, a subsidiary of GCEX Group, has successfully obtained a Virtual Asset Service Provider (VASP) operational license from the Dubai Virtual Asset Regulatory Authority (VARA), providing institutional investors with comprehensive digital asset

Source: GCEX

GCEX Group's GC Exchange FZE (GCEX) has obtained a Virtual Asset Service Provider (VASP) operating license from the Dubai Virtual Asset Regulatory Authority (VARA) for providing VA brokerage trading services.

GCEX established its office in Dubai in July 2022 and obtained the Minimum Viable Product (MVP) preparation license issued by VARA in February 2023. Now, as a VASP, GCEX can operate in the Dubai market, allowing brokers, hedge funds, family offices, and professional traders to access its deep liquidity and technological solutions in the digital asset field.

GCEX provides institutional access to digital assets through its proprietary XplorDigital trading solution, which includes a technology-neutral coverage of regulatory, regulated custody, fund security, Tier 1 liquidity, and technology (including backend and frontend). GCEX only partners with regulated institutional digital asset custodians and pledging providers, and always segregates client funds.

GCEX's Managing Director in Dubai, Mehtap nder, commented: "VARA is a leading company in the global digital asset industry. We are very proud to be one of the first companies to obtain a VASP operating license to provide virtual asset brokerage and trading services, and to be the first company approved to operate customer fund accounts. This highlights our commitment to customer protection. Being a regulated entity in the region is important to us - it is the best way for us to comply with international standards and implement strict processes, with transparency and investor protection at the core of our service. This is an important milestone for our business and crucial to GCEX's growth strategy, enabling us to have a stronger presence in the region."

GCEX Group enables institutional clients to access deep liquidity in FX and digital asset CFDs, as well as digital asset spot trading and conversion, and a range of trading solutions. Headquartered in London and operating in multiple offices globally, GCEX is regulated by the UK Financial Conduct Authority (FCA) and registered with the Danish Financial Supervisory Authority (FSA). True Global Ventures is an investor in GCEX.

About GCEX

Established in 2018, GCEX is a pioneering regulated digital asset and FX platform serving institutional and professional clients. GCEX has established partnerships with Tier-1 trusted liquidity providers, leading counterparties, and regulated digital asset custodians. GCEX offers a wide range of products and technological solutions, including white label products.

GCEX is the trading name for GC Exchange Limited, GC Exchange Fondsmglerselskab A/S, GC Exchange A/S, and GC Exchange FZE. GC Exchange Limited is a registered company in England and Wales (No. 11382809) with a registered address at 75 King William Street, London, EC4N 7BE, offering FX and CFD products. GC Exchange Limited is authorized and regulated by the Financial Conduct Authority (FRN 828730).

The digital asset services are provided by GC Exchange A/S, a registered company in Denmark (CVR 43088777) located at Amager Strandvej 390, 2770, Kastrup. GC Exchange A/S is authorized by the Danish Financial Supervisory Authority as a currency exchange institution (FTID 45020) and registered as a virtual asset service provider (FTID 17524) under anti-money laundering regulations.

GC Exchange Fondsmglerselskab A/S is a company registered in Denmark (CVR 43345052), located at Amager Strandvej 390, 2770, Kastrup. GC Exchange Fondsmglerselskab A/S is authorized and regulated by the Danish Financial Supervisory Authority as an investment company providing FX and CFD products.

GC Exchange FZE is a limited liability free trade zone company registered under the management of Dubai World Trade Center Authority with registration number 1896. GC Exchange FZE has obtained a virtual asset service provider license issued by the Dubai Virtual Asset Regulatory Authority.

About VARA

VARA was established in March 2022 and is the regulatory authority responsible for supervising and managing virtual assets (VA) and virtual asset activities (VA activities) in all areas of Dubai Emirate (including special development zones and free zones, but excluding Dubai International Financial Center) in accordance with the effective law No. 4 of 2022. VARA plays a core role in creating Dubai's advanced legal framework, aiming to protect investors, establish international standards for the governance of the virtual asset industry, and support the vision of a borderless economy.