GSR obtains FCA approval for its OTC services

GSR is the first cryptocurrency liquidity provider to be approved by both the UK’s Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS). International cryptocurrency trading giant GSR has recently added an important and exciting update to its portfolio: the company has received the green light from the Financial Conduct Authority (FCA) to operate as an officially registered crypto asset company within the United Kingdom.

approval, Announce In a press release on the company’s website on January 6, it can be seen as a major step forward in the company’s relations with the authorities.

The FCA approval now makes GSR the first cryptocurrency liquidity provider to be licensed by the FCA and Singapore Mas. With this dual regulatory approval, the company can expand over-the-counter (OTC) and automated execution of cryptocurrency trades through its UK subsidiary.

The Financial Conduct Authority (FCA) approval of GSR represents a significant milestone in global cryptocurrency regulation

Shin Song, CEO of GSR Group, emphasized that this success is important to the company and its goals. “FCA approval is another major step towards achieving our goal of making the cryptocurrency trading space fairer and more open worldwide,” Song added. He also noted that receiving acquisitions from multiple financial regulators should open doors for GSR to participate in other services around the world under different and stringent regulatory requirements.

Although GSR has more than 120 specialists in the UK, it would like to engage with local regulators as the country gradually builds out cryptocurrencies. Systems range. The company also expressed its confidence in its ability to contribute in part to the development of a strong and accelerating regulatory field.

This latest approval comes after GSR obtained a Master Payment Institution license from MAS in April 2024. These services include spot OTC and market making services for its clients, and under Singaporean regulations, the license will establish the company as a leading service provider. Compatible digital asset trading.

As GSR gradually penetrates the regulated space of cryptocurrency options trading, the dual license from the FCA and MAS to operate in this market indicates further integration of crypto liquidity providers in the financial system. Thus, this achievement enhances GSR’s competitive space in the global market and the growing acceptance of Crypto trading Under the emerging traditional regulations.