GCEX opens new Dubai office, appoints Mehtap Önder as Managing Director

Digital brokerage, GCEX today announced its expansion into the MENA region with the opening of a Dubai office. The company also appointed former Regional Director of CFH Turkey (now Finalto), Mehtap Önder as Managing Director, GCEX MENA.

Lars Holst, Founder & CEO, GCEX commented:

Lars Holst, GCEX

Lars Holst

I am thrilled that Mehtap is joining GCEX to spearhead our growth across MENA. Having worked with her for almost eight years at CFH (now Finalto), I know she will be a huge asset to the firm. She has strong business acumen, excellent industry knowledge and a proven track record in building strong client and team relationships. Mehtap has lived in Dubai for the last four years, has a great network of institutional clients and a deep understanding of the regulatory and client requirements in the region.

GCEX’s expansion follows the company obtaining a provisional regulatory approval by the Virtual Assets Regulatory Authority in Dubai (VARA) in April 2022 to operate as a crypto exchange. The firm is currently applying for a license, in accordance with VARA requirements.

The firm also revealed last month that it gained regulatory approval by the FSA in Denmark as a Virtual Asset Service Provider (VASP) and a Currency Exchange. GCEX is also regulated by the UK’s FCA.

Dubai is recently gaining popularity as a hub for the Virtual Asset (VA) industry. It is currently the first and only jurisdiction globally to set-up a specialist regulator dedicated to the VA economy. Its VARA has been working on developing parameters to enable a select list of global participants establish themselves in their regime for the initial phase.

Holst added:

Extending our crypto offering to 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.


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