BlockBeats News, September 25th, GCEX Group announced that it has acquired the crypto brokerage firm GlobalBlock, which focuses on high-net-worth clients, for $60 million. The company manages assets exceeding $60 million. This transaction expands GCEX’s business from core over-the-counter (OTC) trading to high-net-worth client wealth management services. GlobalBlock’s client base will complement GCEX’s existing institutional trading platform, which has served professional traders in multiple jurisdictions.
GCEX holds licenses from the UK Financial Conduct Authority (FCA), the Danish Financial Supervisory Authority (FSA), and the Dubai Virtual Asset Regulatory Authority (VARA). The company plans to leverage these regulatory approvals to expedite the onboarding process for GlobalBlock’s wealth management clients. For this collaboration, GlobalBlock brings AI-driven fund management tools, including its GB10 product, which tracks the top ten cryptocurrencies by market capitalization. The company rebalances portfolios monthly and offers customized digital asset strategies through a mobile app.
GCEX has provided institutional clients with digital asset contracts for difference (CFD), forex trading, and spot cryptocurrency exchange services. Its XplorDigital suite includes white-label solutions for other brokers to expand their crypto services.
