Outside Source
The crypto trading firm and market maker GSR becomes the first crypto liquidity provider to earn regulatory authorizations from both the FCA and Singapore’s MAS.
GSR, the global crypto trading firm and market maker, has received approval from the Financial Conduct Authority for its British arm to operate as a registered crypto asset business, the firm announced in a Monday press release on Jan. 6.
With the approval, GSR says it has become the first crypto liquidity provider to be approved by both the FCA and Singapore’s Monetary Authority of Singapore. The approval allows GSR to offer over-the-counter and programmatic execution crypto asset trading services in the U.K. via its British arm.
Xin Song, Group CEO of GSR, says receiving FCA approval marks a “significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem.” He added that having approvals from multiple financial regulators will allow GSR to expand its services to clients on the international level.
GSR, which employs over 120 people in the U.K., is now looking forward to working with U.K. policymakers as the country’s crypto regulations develop, the firm added in the press release. In April 2024, GSR also received a Major Payment Institution license, allowing it to offer spot OTC and market-making services under Singapore’s regulations.
This article first appeared at crypto.news
