PANews reported on September 25th that GCEX Group has acquired GlobalBlock, a cryptocurrency broker specializing in serving high-net-worth clients with over $60 million in assets under management. This acquisition allows GCEX to expand its business beyond its core over-the-counter (OTC) trading services into wealth management for high-net-worth individuals. GCEX holds operating licenses from the UK Financial Conduct Authority, the Danish Financial Supervisory Authority, and the Dubai Virtual Assets Authority. The company plans to leverage these regulatory approvals to streamline the onboarding process for GlobalBlock's wealth management clients. The combined entity will directly compete with traditional financial giants such as Galaxy Digital, as well as emerging crypto wealth management firms.