GCEX Group expands into MENA region 07 July 2022Dubai Reporter: Jenna Lomax
Image: GCEX
GCEX Group (GCEX) is expanding into the Middle East and North Africa (MENA) region with the opening of a Dubai office, and the appointment of Mehtap Önder (pictured) as managing director of GCEX MENA.
GCEX enables brokers, funds and professional traders to access liquidity in digital assets and also offers a range of technology solutions.
In her new role, Önder will be responsible for all operational aspects of the business in the MENA region.
Önder has more than 15 years’ experience in the financial services sector. She spent eight years at CFH (now Finalto), a global company founded by Lars Holst, founder and CEO of GCEX.
At CFH, Mehtap was regional director for Turkey for five years and, prior to that, was the firm’s head of legal onboarding.
She joins GCEX from Waystone Compliance Solutions, a Dubai-based consultancy firm specialising in compliance, risk and governance.
The opening of GCEX’s office in Dubai follows the firm’s provisional regulatory approval by the Virtual Assets Regulatory Authority in Dubai (VARA) to operate as a crypto exchange.
The firm is currently in the process of applying for a license, in accordance with VARA requirements.
GCEX expansion into Dubai also follows the firm’s regulatory approval by the Danish Financial Supervisory Authority (Finanstilsynet) to become a virtual asset service provider and a currency exchange. In addition, the firm is regulated by the UK’s Financial Conduct Authority.
Commenting on her new role, Önder says: “I am delighted to have been given this opportunity to join a thriving business. What GCEX has achieved to date in a relatively short space of time is exceptional. I am excited to be joining [Lar’s] team and working closely with him to scale GCEX across the MENA region.
“Dubai is at the forefront of the crypto market so this is an ideal location for GCEX to be based in. Our presence in the VARA ecosystem will be key to attracting institutional and professional clients, highlighting our focus on investor protection.”
Holst says: “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.”
He adds: “I am thrilled that Mehtap is joining GCEX to spearhead our growth across MENA. Having worked with her for almost eight years at CFH, I know she will be a huge asset to the firm.”
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Image: GCEX 