GCEX appointed Carmen Tan as Managing Director for its MENA operations, placing the former CoinW Exchange executive at the center of the firm's expansion across Middle Eastern and Asian institutional markets.
Based in Dubai, Tan will oversee the company's VARA-regulated entity while simultaneously driving business development in Asia.
Track Record Across Exchanges and Prime Brokers
Tan joins from CoinW Exchange in Dubai, where she most recently served as Chief Communications Officer after initially managing institutional growth as Global Strategy & Growth Manager.
"Carmen has delivered impressive results and built very strong networks in both the MENA and Asia regions," said Lars Holst, founder and CEO of GCEX.
- GCEX Group Buys GlobalBlock to Expand Wealth Management Services
- GCEX Taps OpenPayd to Expand Fiat Payments in Europe and the UAE
"We are delighted to welcome her to the team to help us deliver our ambitious growth plans and strengthen our position as a trusted, regulated digital prime broker for institutional and professional clients worldwide."
Before CoinW, Tan spent nearly two years at MultiBank Group, finishing as Regional Marketing & Growth Lead. She previously worked at Emirates for nearly six years before transitioning into financial services in 2020.
Tan said she first encountered GCEX while working at MultiBank.
"My focus will be on governance and growth, working closely with Lars to build a dynamic, scalable team and position GCEX as a market leading digital asset prime broker in the regio,” Tan added.
The hire marks GCEX's latest personnel move after recruiting three senior executives in 2025, including former Saxo Bank and CBOE director Steve Thomas, 35-year FX veteran Kevin Gillespie, and ex-Finalto COO Stanislav Bunimovich.
Competing for Institutional Flow
GCEX competes in a market where crypto exchanges increasingly offer traditional finance products to institutional clients. The firm recently launched gold futures CFDs targeting rising institutional activity in commodities.
Rival platforms like Binance and BingX have rolled out perpetual contracts on precious metals and forex pairs, with BingX reporting that gold futures contracts generate over $500 million in daily volume.
GCEX operates under licenses from the UK Financial Conduct Authority, Denmark's Finanstilsynet as a MiCA-compliant crypto asset service provider, and Dubai's Virtual Assets Regulatory Authority. The firm received its VARA license in November 2023 after initially securing a preparatory license in February 2023.
