GSR Markets UK, part of the global cryptocurrency trading firm GSR, has obtained regulatory approval from the United Kingdom’s Financial Conduct Authority (FCA). This approval allows GSR to operate as a licensed crypto asset business in the UK, marking a significant milestone as the first crypto liquidity provider to receive dual authorization from both the FCA and the Monetary Authority of Singapore (MAS).
The approval paves the way for GSR to expand its services, including over-the-counter (OTC) and programmatic execution trading, to institutional clients in the UK. This development comes amid a growing demand for regulated cryptocurrency trading solutions following Bitcoin’s surge past the $100,000 benchmark in December 2024, which has drawn institutional investors to the market.
Despite recent regulatory crackdowns in the UK, such as the banning of Pump.fun, the FCA is pushing for progressive regulations to enhance market safety and transparency. Xin Song, CEO of GSR, expressed that the dual regulatory approval enables the firm to confidently expand its services to institutional and professional clients worldwide, adhering to the regulatory standards of major global markets.
In Singapore, GSR Markets received a full major payment institution (MPI) license from the MAS on April 4, 2024, having previously been granted in-principle approval. GSR now has the capacity to conduct multiple payment services, exceeding the volume limitations for a payment firm, boosting their capability to handle substantial transaction volumes.
Jakob Palmstierna, CEO of GSR Markets UK, commented that the regulatory approval would allow the company to better support its clients in navigating the rapidly evolving market. GSR’s global presence benefits from a workforce of over 120 employees in the UK, establishing it as one of the largest crypto-native employers in the region.
