The crypto trading and liquidity-providing firm GSR obtained approval from the UK's financial industry regulatory, the Financial Conduct Authority (FCA).
The move gives GSR Markets UK Limited the green light to operate as a registered crypto asset business and to conduct, among other services, crypto asset trading for UK-based clients, according to a release shared with The Block.
"Receiving FCA approval marks a significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem,” said GSR Group CEO Xin Song in a statement sent to The Block. “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.”
In April 2024, Singapore's Monetary Authority of Singapore also granted GSR's Singaporean entity a major payment institution to let the firm provide over-the-counter and market-making services.
GSR also saw Rich Rosenblum, its co-founder and co-CEO, as well as its CTO, John MacDonald, leave the firm following another c-suite executive reorganization in mid-2024, The Block previously reported.
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