GCEX, a
digital prime brokerage, has expanded its partnership with Hex Trust, an
institutional custodian for cryptocurrencies. The announcement follows the companies’
initial venture into staking services in April 2023.
Now, their
relationship includes an expansion in staking services, offering a broader
portfolio of assets to brokers, hedge funds, professional traders and fund
managers.
Hex Trust and GCEX Expand
Partnership
According
to the press release, GCEX will introduce nine additional assets for staking to
its institutional and professional clients. The new offering includes Apecoin,
Flare and Ethereum. Moreover, GC Exchange A/S has hinted at augmenting
the list in response to growing client demands.
“Our
bond with Hex Trust, our custody partner for more than two years, is robust and
trusted. We are thrilled to meet the rising demand for staking services by
widening our staking offerings,” Michael Aagaard, the Managing Director of
GCEX Denmark, stated expressing his excitement over the partnership expansion. He emphasized GCEX’s strategy of driving innovation by teaming up with
reputable firms in the industry.
GCEX Group
is a digital prime brokerage providing deep liquidity access to FX and CFDs on
digital assets to institutional clients. In addition, it offers digital assets spot trading,
conversion, and XplorDigital, a digital trading solution. In May, the company
gained a new license in Denmark to provide derivatives.
Giorgia Pellizzari, the Head of Custody at Hex Trust, echoed Aagaard’s enthusiasm: “It’s a
pleasure to extend our services to digital asset staking, having served GCEX
with custody services for a few years now.” She stressed the commitment Hex Trust has towards providing secure and smooth staking
services for clients like GCEX via their custody platform, Hex Safe.
GCEX
Broadens Cooperation and Employment
Hex Trust
is not the only company that has bolstered its partnership with GCEX. Just two
months ago, GCEX, led by Lars Holst, enhanced its collaboration with the custody
platform, Komainu. The expansion aimed to provide more staking services to their
professional clientele.
Komainu is a joint venture between the investment bank Nomura, a hardware tech firm Ledger,
and a digital asset investment manager, CoinShares. GCEX first joined forces with
Komainu in February 2022, aiming to amplify its crypto custody services.
Meanwhile,
GCEX announced Tilman Schultz’s appointment as the Head of Partnerships. His role
focuses on boosting GCEX’s growth in Europe, specifically the recently launched
XplorDigital trading solutions.
In April,
GCEX disclosed its financial results for the fiscal year ending 31 December
2022. The prime brokerage reported a turnover of £4.5 million, marking a rise of 136
percent from the prior year’s figure of £1.9 million. Moreover, GCEX concluded the
year with a net profit of £1.5 million, which is a slight increase from the previous
fiscal year of £1.42 million.
This article was written by Damian Chmiel at www.financemagnates.com.
