Outside Source
- GSR has received a regulatory nod from the UK’s Financial Conduct Authority.
- The cypto trading firm also holds a crypto license from the Singapore Monetary Authority.
GSR, a crypto trading firm and market maker, has received regulatory approval from Financial Conduct Authority (FCA), the financial markets regulator in the UK.
In a press release on Jan. 6, GSR said the regulatory approval means GSR Markets UK Limited is duly registered to conduct crypto related business in the country. It will support crypto trading in the UK, reaching both local/resident clients and across the globe.
GSR’s approval maps the firm as the first crypto liquidity provider to offer over-the-counter and crypto asset trading services.
According to the announcement, the firm seeks to expand its services delivery globally. This follows the firm’s milestone of having received regulatory nods from the two major crypto regulation jurisdictions.
GSR seeks global traction
Notably, Singapore’s Monetary Authority of Singapore granted regulatory approval to GSR as a crypto liquidity provider in April 2024. GSR is a Major Payment Institution licensed firm in Singapore.
The move for global regulatory approval aligns with GSR’s quest to offer its services alongside the standard principles of compliance and integrity – a top goal for company brand and image built over time.
GSR Group CEO Xin Song noted that the two global financial regulators’ approvals “marks a significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem.”
He confidently added that getting regulatory approvals from leading financial regulators makes the firm confident to expand on its services delivery to clients globally.
“By achieving approvals from two of the world’s leading financial regulators, the GSR Group can confidently expand our services to institutional and professional clients globally while continuing to uphold the integrity and high-quality service that we are known for,” the GSR Group chief executive added.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
