GC Exchange FZE, the Dubai-based entity of GCEX Group, has appointed Mohammed A. Mulla as a member of the Board of Directors, who recently left Finalto after a period of more than 16 years.
The Dubai unit acts as a virtual assets service provider regulated by the Dubai Virtual Assets Regulatory Authority (VARA) and is licensed as a broker-dealer.
GCEX Group provides institutional and professional clients with liquidity in CFDs on digital assets and forex, along with spot trading and transfer of digital assets. Its XplorDigital suite includes a recently launched app and bundled offerings, Crypto in a Box and Broker in a Box, covering custody, staking, liquidity and risk management services. GCEX is headquartered in London with offices in several jurisdictions, and counts True Global Ventures among its investors.
“The growth opportunities at GCEX are enormous,” Al-Mulla said.
An industry veteran is switching positions
Mullah F. wasVice President of the Middle East, North Africa and Asia region at Finaltothen known as CFH. According to the company, it has contributed around $2 trillion in STP trading volumes there over the years. In 2019, he founded Noor Clearing, a partnership between Finalto and Noor Capital PSC that coincided with Noor Capital’s shift from being regulated by the UAE Central Bank to being regulated by the Securities and Commodities Authority.
He began his career in capital markets in 2007 as an EMEA Sales Associate at ODL Securities in the UK, after a previous stint as an auditor at Ernst & Young in Saudi Arabia. He holds a Master’s degree in International Finance from Westminster Business School in London and securities and regulatory certifications from the Chartered Institute of Securities and Investments.
Lars Holst, Founder and CEO GCEXHe pointed to his history working with Al Mulla as a recruiter: “Having worked with Mohammed since CFH was founded for nearly a decade and followed his career since then, he brings significant regional experience and an established network.”
GCEX supports its team
The appointment comes amid a broader recruitment drive in the region. GCEX brought in Carmen Tan As managing director of MENA operations in January, she was appointed from CoinW Exchange, where she was chief communications officer. Tan’s mandate covers both the VARA-regulated Dubai entity and business development across Asia.
GCEX’s Dubai operations have built their regulatory standing over several years, obtaining a preparatory MVP license from VARA in February 2023 and Full operational VASP license In November of that year, the latter allowed it to operate a client money account, a distinction that GCEX said made it the first firm in the region to do so. The Dubai license comes alongside the UK’s Financial Conduct Authority (FCA) license from GCEX and, since December 2025, a MiCA license from Denmark’s Finanstilsynet.
This article was written by Arnab Shomi at www.financemagnates.com.
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