GCEX Offers Crypto Staking with Komainu Partnership Expansion

GCEX, Lars Holst-headed digital prime brokerage, expanded its partnership with the custody platform Komainu to offer staking services to its institutional and professional clients.

GCEX Expands Komainu Partnership

Komainu is a joint venture between the investment bank, Nomura, the hardware technology company, Ledger, and the digital asset investment manager, CoinShares. Initially, GCEX partnered with the company last February to expand its crypto custody services.

“We are delighted to extend our partnership with Komainu, giving our clients access to secure and compliant staking services, enabling them to participate in staking rewards for digital assets,” said Holst, the Founder and CEO at GCEX. “We are committed to providing our clients with the best possible service, and this partnership is a testament to that.”

Staking Is Popular

Staking allows certain cryptocurrency holders to stake their holdings with blockchain validators and earn rewards. It has become popular as crypto holders can earn a percentage on their ideally kept cryptocurrencies.

While regulators in America and a few other countries are cracking down on staking, platforms like Komainu offer these services under the regulatory umbrella. Headquartered in Jersey, Komainu has offices in London, Dublin, Dubai, and Singapore. It is regulated by the Jersey Financial Services Commission (JFSC) and the Dubai Virtual Assets Regulatory Authority (VARA).

“Adding staking was a natural next step in our suite of offerings for GCEX clients,” Darren Jordan, the Head of Sales at Komainu, said. “Offering custody alone doesn’t cut it anymore; the market demands more innovative solutions, and clients require the utility of their assets. That is why Komainu built a suite of services, including regulated custody, staking, and collateral management, and we are pleased to extend our partnership with GCEX Group to provide staking services.”

Meanwhile, GCEX, founded in 2018, significantly expanded its geographical reach and products. The company, known for offering forex and crypto liquidity, jumped into the trading technology space and launched two proprietary trading platforms, one for crypto and another for contracts for differences (CFDs).

On top of that, GCEX published its financials for 2022, which was a year when its turnover jumped 136 percent to £4.5 million. Furthermore, it ended the year with a net profit of £1.5 million.

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GCEX and Hex Trust Bolster Partnership to Broaden Staking Services

GCEX, a digital prime brokerage, has expanded its partnership with Hex Trust, an institutional custodian for cryptocurrencies. The announcement follows the companies' initial venture into staking services in April 2023.

Now, their relationship includes an expansion in staking services, offering a broader portfolio of assets to brokers, hedge funds, professional traders and fund managers.

Hex Trust and GCEX Expand Partnership

According to the press release, GCEX will introduce nine additional assets for staking to its institutional and professional clients. The new offering includes Apecoin, Flare and Ethereum. Moreover, GC Exchange A/S has hinted at augmenting the list in response to growing client demands.

"Our bond with Hex Trust, our custody partner for more than two years, is robust and trusted. We are thrilled to meet the rising demand for staking services by widening our staking offerings," Michael Aagaard, the Managing Director of GCEX Denmark, stated expressing his excitement over the partnership expansion. He emphasized GCEX's strategy of driving innovation by teaming up with reputable firms in the industry.

GCEX Group is a digital prime brokerage providing deep liquidity access to FX and CFDs on digital assets to institutional clients. In addition, it offers digital assets spot trading, conversion, and XplorDigital, a digital trading solution. In May, the company gained a new license in Denmark to provide derivatives.

Giorgia Pellizzari, the Head of Custody at Hex Trust, echoed Aagaard's enthusiasm: "It's a pleasure to extend our services to digital asset staking, having served GCEX with custody services for a few years now." She stressed the commitment Hex Trust has towards providing secure and smooth staking services for clients like GCEX via their custody platform, Hex Safe.

GCEX Broadens Cooperation and Employment

Hex Trust is not the only company that has bolstered its partnership with GCEX. Just two months ago, GCEX, led by Lars Holst, enhanced its collaboration with the custody platform, Komainu. The expansion aimed to provide more staking services to their professional clientele.

Komainu is a joint venture between the investment bank Nomura, a hardware tech firm Ledger, and a digital asset investment manager, CoinShares. GCEX first joined forces with Komainu in February 2022, aiming to amplify its crypto custody services.

Meanwhile, GCEX announced Tilman Schultz's appointment as the Head of Partnerships. His role focuses on boosting GCEX's growth in Europe, specifically the recently launched XplorDigital trading solutions.

In April, GCEX disclosed its financial results for the fiscal year ending 31 December 2022. The prime brokerage reported a turnover of £4.5 million, marking a rise of 136 percent from the prior year's figure of £1.9 million. Moreover, GCEX concluded the year with a net profit of £1.5 million, which is a slight increase from the previous fiscal year of £1.42 million.

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