On January 6, 2025, GSR Markets UK announced it received regulatory approval from the UK's Financial Conduct Authority (FCA), making it the first crypto liquidity provider with dual authorization from both the FCA and Singapore's Monetary Authority of Singapore (MAS).
This approval allows GSR to expand its services, including over-the-counter (OTC) and programmatic execution trading for UK clients, amid growing demand for regulated crypto trading solutions. Bitcoin recently surpassed the $100,000 mark in December 2024, contributing to increased institutional investment in the market.
GSR's Group CEO, Xin Song, emphasized that this dual authorization will enable the firm to confidently expand services to institutional clients globally. With over 120 employees, GSR Markets UK positions itself as a leading crypto-native employer in the region.
Previously, GSR Markets obtained its major payment institution (MPI) license from the MAS on April 4, 2024, allowing it to exceed payment service volume limits, further solidifying its operational capabilities.