GCEX's Dubai Unit Adds Mohammed Mulla to the Board
GC Exchange FZE, the Dubai-based entity of GCEX Group, has appointed Mohammed A. Mulla as a board member, who recently left Finalto after his over 16-year stint.
The Dubai unit operates as a Virtual Asset Service Provider regulated by Dubai’s Virtual Assets Regulatory Authority (VARA) and is authorised as a broker-dealer.
GCEX Group provides institutional and professional clients with liquidity in CFDs on digital assets and FX, alongside spot trading and digital asset conversion. Its XplorDigital suite includes a recently launched app and packaged offerings, Crypto in a Box and Broker in a Box, covering custody, staking, liquidity, and risk management. GCEX is headquartered in London with offices across several jurisdictions, and True Global Ventures is listed among its investors.
“The opportunities for growth at GCEX are vast,” said Mulla.
An Industry Veteran Switches Post
Mulla was the founding Vice President for MENA and Asia at Finalto, then known as CFH. According to the company, he contributed roughly USD 2 trillion in STP trading volumes there over the years. In 2019, he set up Noor Clearing, a partnership between Finalto and Noor Capital PSC that coincided with Noor Capital’s shift from UAE Central Bank regulation to oversight by the Securities and Commodities Authority.
His capital markets career began in 2007 as a sales associate for EMEA at ODL Securities in the UK, after an earlier stint as an auditor at Ernst & Young in Saudi Arabia. He holds an MSc in International Finance from Westminster Business School in London and securities and regulation certificates from the Chartered Institute for Securities & Investments.
Lars Holst, founder and CEO of GCEX, cited his working history with Mulla as a factor in the appointment: “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 and an established network.”
GCEX Bolstering Its Team
The appointment lands amid a broader hiring push in the region. GCEX brought on Carmen Tan as Managing Director for MENA operations in January, recruiting her from CoinW Exchange, where she had served as Chief Communications Officer. Tan’s mandate covers both the VARA-regulated Dubai entity and business development across Asia.
GCEX’s Dubai operation has built up its regulatory standing over several years, receiving an MVP preparatory licence from VARA in February 2023 and a full operational VASP licence that November, the latter allowing it to operate a client money account, a distinction GCEX has said made it the first firm in the region to do so. The Dubai licence sits alongside GCEX’s UK FCA authorisation and, since December 2025, a MiCA licence from Denmark’s Finanstilsynet.
This article was written by Arnab Shome at www.financemagnates.com.
