FCA-regulated GCEX, a crypto and forex liquidity provider, is expanding its global footprint and has opened a new office space in Kuala Lumpur, Malaysia. It has already hired the first team member in operations at the new office with plans of adding four more individuals by May.
Headquartered in London, GCEX is bridging the gap between institutional investors and cryptocurrency. Its services particularly target four areas: counterparty risk, transparency, custody and technology integration.
A Strategic Move
The new office in Malaysia has been opened months after the company expanded into Europe by establishing a Copenhagen office in September 2021. In addition, it operates another office in Scotland.
The expansion into Malaysia is strategic as it will enable the company to strengthen its round-the-clock coverage and enhance its service for the rapidly growing client base in Asia.
“Expanding our global footprint into Asia is a significant development for GCEX and a key milestone in our growth strategy. We selected Kuala Lumpur as our Asia hub as we believe it is one of the Fintech capitals of Asia, with a strong pool of talent for us to access as we grow the business,” said Lars Holst, the Founder and CEO at GCEX.
Moreover, the expansion came after GCEX received $4 million in funding earlier this year from True Global Ventures 4 Plus Fund. The company utilized those proceeds for its Malaysia expansion.
“The investment we received from True Global Ventures (TGV4 Plus) is helping to fuel our expansion, enabling us to capitalise on the growing demand we are seeing for our modular end-to-end plug and play trading platform for digital assets and FX,” Holst added.
