GSR Obtains Major Payment Institution License from Monetary Authority of Singapore

SINGAPORE--(BUSINESS WIRE)--GSR, the global cryptocurrency trading firm and liquidity provider, today announced that its Singapore subsidiary, GSR Markets Pte. Ltd. (GSR Singapore) has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This milestone follows GSR receiving the in-principle approval for a MPI license from MAS in September 2023. This license brings the existing spot OTC, market making and programmatic execution services that the firm offers to clients in the region under the framework of Singapore’s Payment Services Act.

“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 centre,” said Jakob Palmstierna, GSR Group CEO.

“Singapore’s role as a leading financial centre 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,” added Xin Song, GSR Group COO and CEO of GSR Singapore. “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.”

GSR remains committed to 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.

About GSR

GSR has ten years of digital asset market expertise as a liquidity provider and active, multi-stage investor. Our suite of services includes OTC Trading, Market Making, and Treasury Management. GSR is embedded in every major sector of the digital asset ecosystem, working with token issuers, institutional investors, miners, and leading trading venues. Visit www.gsr.io for more information.