GSR Singapore Regulatory Win With MAS New License Approval

October 2, 2023 - Around 2 mins mins to read

Key Points:

GSR Singapore gets initial approval for a major payment institution license from MAS.
This approval enhances GSR’s foothold in Singapore and supports regional investments and web3 adoption.
GSR remains dedicated to its role as a primary market maker in the global crypto exchange arena.

GSR, the global cryptocurrency trading firm and liquidity provider, has achieved a significant milestone in its regulatory journey. Its Singapore subsidiary, GSR Markets (GSR Singapore), has received In-Principle Approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license.

GSR Singapore Regulatory Win With MAS New License Approval

GSR Singapore Achieves Regulatory Milestone with MAS Approval

The approval from MAS represents a crucial step for GSR in expanding its operations in the Asia-Pacific region and fostering the adoption of web3 technology.

This achievement enables GSR Singapore to better serve the cryptocurrency community and deepen its presence in the Singapore market. GSR aims to utilize Singapore as a strategic hub for investment in the region, supporting entrepreneurs and innovators in the cryptocurrency space.

GSR Paves the Way for Crypto Expansion in Asia-Pacific

Jakob Palmstierna, CEO of the GSR Group, expressed gratitude to MAS for their constructive oversight, emphasizing the role of regulatory authorities in shaping a thriving digital asset ecosystem. GSR Singapore remains committed to its role as one of the crypto industry’s oldest market makers and is dedicated to enhancing its presence in Singapore.

GSR’s reputation as the primary market maker for numerous leading cryptocurrency exchanges worldwide underscores its importance in the digital asset landscape. The company’s continued efforts in regulatory compliance and its expansion into Singapore solidify its commitment to advancing the cryptocurrency sector and its technologies.

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