TechFlow, on September 25, according to Financemagnates, digital prime broker GCEX Group has acquired cryptocurrency brokerage GlobalBlock for $60 million. GlobalBlock specializes in serving high-net-worth clients and manages over $60 million in assets.
The acquisition expands GCEX's operations from its core OTC business into wealth management services for high-net-worth individuals. GCEX holds licenses from the UK Financial Conduct Authority, the Danish Financial Supervisory Authority, and the Dubai Virtual Assets Regulatory Authority, and plans to leverage these regulatory approvals to accelerate onboarding for GlobalBlock's wealth management clients. Lars Holst, founder and CEO of GCEX, said the acquisition of GlobalBlock represents a strategic leap that will expand the company's footprint, client base, team, and capabilities.
