Digital brokerage GCEX has expanded its operations in the Mena region with a new office in Dubai.
The office opening follows the firm securing provisional regulatory approval from Dubai’s Virtual Assets Regulatory Authority (Vara) earlier this year.
The Dubai business will be led by newly appointed managing director Mehtap Önder who was previously regional director of CFH Turkey.
Most recently, she was working at Dubai-based consultancy Waystone Compliance Solutions.
GCEX already operates in Denmark as a fully regulated virtual assets service provider and is also regulated in the UK.
According to founder and CEO Lars Holst, the move into the Mena region is a “major milestone” for the business.
“Receiving provisional regulatory approval from Vara in Dubai adds significant credibility to our offering and puts us in a strong position to become a dominant crypto exchange for institutional and professional clients in the region,” said Holst.
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