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GSR, a leading global cryptocurrency trading firm, has achieved a significant milestone by securing dual regulatory approval in the United Kingdom and Singapore, further solidifying its position as a trusted provider of institutional crypto trading services.
FCA Authorization: Expanding Crypto Services in the UK
GSR Markets UK, a subsidiary of GSR, has received approval from the United Kingdom’s Financial Conduct Authority (FCA) to operate as a licensed crypto asset business. This authorization enables GSR to offer over-the-counter (OTC) and programmatic execution trading to institutional clients in the UK, addressing the growing demand for regulated crypto trading solutions.
The FCA’s approval coincides with increasing institutional interest in cryptocurrency markets, particularly following Bitcoin’s surge past the $100,000 milestone in December 2024.
Dual Regulatory Compliance: A First for Crypto Liquidity Providers
GSR’s approval from the FCA, coupled with its earlier authorization from the Monetary Authority of Singapore (MAS), makes it the first crypto liquidity provider to achieve dual regulatory compliance in these major markets.
Xin Song, Group CEO of GSR, highlighted the significance of this achievement:
“This dual approval allows us to confidently expand our services to institutional and professional clients globally.”
The regulatory compliance reflects GSR’s commitment to adhering to stringent global standards, fostering greater trust and transparency in the cryptocurrency industry.
Strengthening Global Market Presence
With the FCA’s green light, GSR is poised to meet the increasing demand for reliable and compliant crypto trading services. Jakob Palmstierna, CEO of GSR Markets UK, emphasized the firm’s readiness to support clients in navigating the dynamic and rapidly evolving market:
“This development allows us to better cater to our clients as they seek dependable trading platforms in an increasingly regulated environment.”
GSR’s growing global footprint is supported by over 120 employees in the UK, making it one of the largest crypto-native employers in the region.
MPI License from MAS: Expanding Capabilities in Singapore
In addition to its UK achievements, GSR Markets received a full Major Payment Institution (MPI) license from the MAS on April 4, 2024, following in-principle approval in October 2023. This license allows GSR to exceed payment volume limits, conducting multiple payment services beyond the previous restrictions.
Xin Song called the MPI license a significant accomplishment:
“It marks the first of its kind in Singapore, enabling us to provide comprehensive payment services and scale operations effectively.”
Pioneering Regulated Crypto Services
GSR’s dual regulatory approvals underscore its dedication to leading the way in regulated cryptocurrency trading. As global markets demand more transparent and secure solutions, GSR remains at the forefront, setting new standards for compliance and reliability in the crypto industry.
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