Crypto Trading Firm GSR Granted Full License in Singapore – Fintech Singapore

GSR, a global cryptocurrency trading firm and liquidity provider, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This license allows its subsidiary, GSR Markets Pte. Ltd., located in Singapore, to provide digital payment token services.

The firm first received in-principle approval for the MPI license from MAS in September 2023.

The acquisition of this license allows the company to bring its range of services, including spot over-the-counter (OTC) trading, market making, and programmatic execution.

GSR shared that it will be “collaborating with projects and exchanges within the APAC region, aiming to encourage widespread adoption of blockchain technology and support the development of a vibrant digital assets ecosystem”.

With a decade of experience in the digital asset market, GSR offers a comprehensive suite of services, including OTC trading, market making, and treasury management. The firm works closely  with token issuers, institutional investors, miners, and key trading platforms.

Jakob Palmstierna

“We are proud to receive the MPI license from MAS, a regulator that promotes sustainable non-inflationary economic growth, and a sound and progressive financial center,”

said Jakob Palmstierna, Group CEO of GSR.

Song Zheng Xin

“Singapore’s role as a leading financial center continues to strengthen. With this license from one of the world’s most respected regulators, our clients should have even greater confidence in the rigour and quality of our standards, policies and procedures.

As one of the first firms of our type to be granted this license, we are excited to continue to lead the way in developing fair and orderly markets for digital assets.”

added Song Zheng Xin, GSR Group COO and CEO of GSR Singapore.

Featured image credit: Edited from Freepik

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• Source: https://fintechnews.sg/94274/digitalassets/crypto-trading-firm-gsr-granted-full-license-in-singapore/