Digital brokerage GCEX today announced it has secured two licenses by the Danish Financial Supervisory Authority, the FSA. The rapidly growing company has obtained a Virtual Asset Service Provider (VASP) license and authorisation to provide currency exchange to professional clients.
With the newly acquired VASP license GCEX will be able to provide clients with transfer of virtual currencies, exchange between virtual currencies and fiat currencies, as well as between different types of virtual currency.
GCEX is also regulated by the UK Financial Conduct Authority (FCA) and has offices in London, Copenhagen, Glasgow and Kuala Lumpur. The digital brokerage currently offers over 40 coins and tokens as well as FX liquidity from Tier 1 providers and a wide range of technology solutions.
It is a priority for GCEX to have multi-jurisdictional regulatory coverage as this gives clients the choice of trading with the regulated entity which best suits their requirements. As Brexit has completely changed the landscape for UK regulated brokerages in terms of passporting, we believe it is very important for us to be regulated in an EU country. The Danish FSA license, therefore, is a major milestone for the business. The fact that we have permission to run a crypto exchange globally from Denmark is also very significant.
Michael Aagaard, Managing Director, GCEX Denmark added:
Michael Aagaard
Being a Danish authorised entity gives further credibility to our offering. We are now looking at expanding our operations in Denmark and will be growing our team across all functions.
Aagaard joined GCEX as Managing Director of GCEX in Denmark earlier in May. His main focus is the strategic growth plans for the organisation.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
