FCA regulated digital asset prime brokerage GC Exchange Limited, which operates under the brand GCEX, has reported its financial results for 2025 which include a steep decline in revenue, and an expanded net loss for the year.

Revenues at GCEX came in at £2.77 million (USD $3.8 million) in 2025, down by 26% from £3.76 million in 2024. The company’s net loss of £510K in 2025 was increased from a £173K loss the previous year.

Client Balances declined significantly during the year at GCEX, coming in at £14.5 million as at year end 2025, versus £23.3 million in 2024.

We’d note that the results shown here are for the UK arm of GCEX, i.e. GC Exchange Limited. In 2024, GCEX UK accounted for 86% of revenues at parent company GCEX Holding Limited, such that we believe that GCEX UK’s results provide a fairly good overview of what’s going on overall within the GCEX Group. GCEX Holding Limited, which also operates subsidiaries in Denmark, Switzerland, and the UAE, is likely to release its 2025 results later this year.

GCEX indicated that it has seen a “positive revenue trend” since the last quarter of the financial year, which is expected to continue into 2026. In line with its strategy, the company has made efforts io diversify its client base and further develop its execution-only client offering. Additionally, GCEX has enhanced liquidity in its FX and crypto businesses by adding new liquidity providers.

On the technological front, GCEX launched a client portal, which not only improves the client experience but also streamlines internal operations.

As of December 31, 2025, shareholders’ funds stood at £4.0 million (2024: £4.7 million). The company remains focused on its growth objectives, with particular emphasis on investing in business development, marketing, and strengthening its compliance team.

The company said in a statement that the results reflect a period of deliberate strategic investment across the GCEX Group, having recently acquired GlobalBlock – with the business prioritising client quality, recurring revenue growth and regulatory development. Recurring revenue streams, including white label platform fees and minimum monthly trading fees, continued to build throughout the year, providing a more predictable and resilient revenue base as the Group scales.

Lars Holst (pictured above), Founder and CEO of GCEX Group, said,

“The 2025 results for our UK entity reflect a year in which we invested deliberately and carefully in the foundations for long-term growth. Across the Group, we saw continued momentum in recurring revenues, strong client interest across our regulated jurisdictions and a positive trajectory heading into 2026. After, the acquisition of GlobalBlock, GCEX secured MiCA authorisation in Denmark and strengthened our UK financial promotions capability for the clients we serve. For us, regulation is part of the foundation of a sustainable institutional business. Our regulatory footprint, governance and compliance infrastructure support the trust and transparency clients expect when choosing a prime brokerage partner.”

About GCEX

Founded in 2018, GCEX is a pioneering regulated digital prime brokerage with digital asset and FX platforms for institutional and professional clients. GCEX has partnerships with Tier 1 Liquidity Providers, leading counterparties and custody asset institutions. The company offers a wide range of products and technology solutions including White Labels. The Group serves its rapidly growing global client base and offices in London, Copenhagen, Glasgow, Kuala Lumpur and Dubai. True Global Ventures are investors in GCEX. GCEX is controlled by its founder and CEO Lars Holst.

GCEX’s 2025 income statement and balance sheet follow below.