GCEX, an institutional digital asset and FX prime broker, has appointed Mohammed A. Mulla to the board of its Dubai entity, GC Exchange FZE. The appointment strengthens the company's leadership team as it expands its regulated digital asset business across the Middle East. Mulla, who spent 16 years at Finalto (formerly CFH Clearing) as founding Vice President for the Middle East and Asia, joins a subsidiary licensed by Dubai's Virtual Assets Regulatory Authority as a Virtual Asset Service Provider authorized to operate as a broker-dealer. Dubai continues attracting institutional digital asset firms under its dedicated virtual asset regulatory framework, with established FX infrastructure providers positioning themselves to serve the convergence between traditional capital markets and digital assets.
Mulla Brings 16 Years of Finalto Experience to GCEX Board
Mulla spent 16 years at Finalto, formerly CFH Clearing, where he served as the firm's founding Vice President for the Middle East and Asia. According to GCEX, he helped generate approximately US$2 trillion in straight-through processing trading volumes during his time with the institutional liquidity provider.
He led the launch of Noor Clearing in 2019, a partnership between Finalto and Noor Capital that supported the Abu Dhabi firm's transition from regulation by the UAE Central Bank to the Securities and Commodities Authority.
Before entering the institutional FX industry, Mulla worked as an auditor at Ernst & Young in Saudi Arabia before joining ODL Securities in London in 2007 as a sales associate covering EMEA markets. He holds a Master's degree in International Finance from Westminster Business School and professional qualifications from the Chartered Institute for Securities & Investment.
Founder and Chief Executive Lars Holst said the appointment strengthens GCEX's regional expertise at a time when institutional demand for regulated digital asset infrastructure continues to grow. "Having worked with Mohammed since the inception of CFH for almost a decade and having followed his career ever since, he brings significant regional acumen, an impressive track record and an exceptionally strong network. I am thrilled to have him join our team to help us capitalise on the growth opportunities regionally and globally," Holst stated.
Mulla said the opportunity to join GCEX reflected his belief in the company's institutional business model. "This is an exciting career move for me. Lars is a visionary and has built GCEX's crypto offering around principles that I strongly believe in: STP access to Tier 1 liquidity, no conflict of interest with clients, and a commitment to building long-term mutually beneficial client relationships," Mulla stated.
He added that the company had assembled an experienced management team, including several former colleagues from CFH, and said he looked forward to helping drive the next phase of the firm's expansion.
GCEX Holds Multiple Regulatory Licenses Across Three Jurisdictions
Mulla highlighted Dubai's evolving regulatory environment as a key factor behind GCEX's growth strategy. "The opportunities for growth at GCEX are vast. GCEX is at the forefront of the industry with its strong regulatory foundations, deep capital markets expertise, and focus on blockchain technology at a time when digital assets and tokenised real-world assets are becoming increasingly important in global financial markets," he stated.
He noted that GCEX was among the first firms to receive a Virtual Asset Service Provider operating licence from Dubai's Virtual Assets Regulatory Authority to provide broker-dealer services and the first to receive approval to operate with a client money account.
VARA has become one of the world's most active regulators for digital asset businesses, attracting exchanges, brokers, custodians and institutional infrastructure providers seeking a dedicated regulatory framework for virtual asset activities.
Headquartered in London, GCEX operates under multiple regulatory licences, including authorisation from the UK's Financial Conduct Authority, Denmark's Financial Supervisory Authority under the European Union's Markets in Crypto-Assets Regulation, and Dubai's Virtual Assets Regulatory Authority. The company is backed by venture capital firm True Global Ventures.
FX Executives Move Into Digital Asset Infrastructure Businesses
Founded in 2018, GCEX has positioned itself as a digital prime brokerage serving institutional and professional clients across both traditional foreign exchange and digital asset markets.
The company provides access to CFDs on cryptocurrencies and foreign exchange alongside spot digital asset trading and conversion services. Through its XplorDigital technology suite, GCEX also offers infrastructure products including white-label brokerage solutions, custody integrations, staking services, liquidity connectivity, risk management tools and turnkey platforms designed for firms entering digital asset markets.
The appointment reflects a broader trend across the institutional trading industry, where experienced FX executives are increasingly moving into digital asset infrastructure businesses as the operational and regulatory frameworks supporting crypto markets continue to mature.
FAQ
What role did Mohammed A. Mulla hold at Finalto before joining GCEX?
Mohammed A. Mulla spent 16 years at Finalto, formerly CFH Clearing, where he served as the firm's founding Vice President for the Middle East and Asia. According to GCEX, he helped generate approximately US$2 trillion in straight-through processing trading volumes during his time with the institutional liquidity provider.
What regulatory licenses does GCEX hold?
GCEX operates under multiple regulatory licences across three jurisdictions: authorisation from the UK's Financial Conduct Authority, Denmark's Financial Supervisory Authority under the European Union's Markets in Crypto-Assets Regulation, and Dubai's Virtual Assets Regulatory Authority. The company's Dubai subsidiary, GC Exchange FZE, is licensed by the Virtual Assets Regulatory Authority as a Virtual Asset Service Provider authorized to operate as a broker-dealer.
What services does GCEX provide to institutional clients?
GCEX provides access to CFDs on cryptocurrencies and foreign exchange alongside spot digital asset trading and conversion services. Through its XplorDigital technology suite, the company offers infrastructure products including white-label brokerage solutions, custody integrations, staking services, liquidity connectivity, risk management tools and turnkey platforms designed for firms entering digital asset markets.
