GCEX Group’s branch located in Dubai, GC Exchange FZE, has appointed Sayed Al-Darmaki as a non-executive director to drive growth in the UAE region.
Strengthening Presence in the UAE
In an announcement made today (Thursday), Al-Darmaki’s focus will be on advancing the company’s growth, which operates in Dubai and holds a Virtual Asset Service Provider (VASP) license issued by the Dubai Virtual Asset Regulatory Authority (VARA).
GCEX established its Dubai office mid-2022 and subsequently obtained a local license. The company, headquartered in London, has physical offices in Copenhagen, Glasgow, Zug Crypto Valley, and Kuala Lumpur.
Mehtap Önder, Managing Director of GCEX Dubai, commented on the new appointment, saying, “With his extensive network, industry expertise, and regional experience, he will be a tremendous asset to GCEX, allowing us to maximize growth opportunities and unleash our potential in the region.”
Local Industry Expert
Al-Darmaki indeed brings a wealth of experience in the cryptocurrency and blockchain industries in the region. Currently serving as the CEO of Sheesha Finance and co-founder of Alphabit Investment Fund, he also advises several companies in China. His career began in traditional finance, where he worked at the Abu Dhabi Investment Authority for nine years.
Al-Darmaki stated, “I have known the team at GCEX and its investor True Global Ventures for some time now.”
Last month, GCEX also appointed Jonathan Brolly, co-founder of IS Prime, as Chief Revenue Officer to focus on driving growth for all entity institutional and professional clients. The UAE-based entity earlier this year also hired a new Sales Director, Katina Messinis.
Meanwhile, GCEX UK entity’s revenue was halved in 2023 to £2.3 million, leading the company into losses. The company attributed the economic slowdown to a prolonged “cryptocurrency winter.”
