KEY FACT: GSR, a leading global cryptocurrency trading firm and liquidity provider has achieved UK FCA approval for its subsidiary, GSR Markets UK Limited. This approval enables the company to offer crypto asset trading services, including over-the-counter (OTC) and programmatic execution, to clients in the UK, further solidifying its position as a trusted and compliant player in the digital asset space. With approvals from both the FCA and the Monetary Authority of Singapore (MAS), GSR becomes the first crypto liquidity provider to achieve dual recognition from these key regulators. The firm, which employs over 120 people in the UK, plans to continue engaging with policymakers to support the country’s evolving digital asset framework.

Source: GSR

GSR Secures UK FCA Approval and Expands Regulated Crypto Services

GSR, a prominent global cryptocurrency trading firm and liquidity provider, has secured approval from the UK's Financial Conduct Authority (FCA) for its subsidiary, GSR Markets UK Limited, to operate as a registered crypto asset business. This authorization permits GSR to operate as a licensed crypto asset business within the UK. This achievement positions GSR as the first crypto liquidity provider to obtain regulatory authorizations from both the FCA and the Monetary Authority of Singapore (MAS). The firm announced the development through its handle on the X platform on Monday, January 6, 2025.

1/ Today, we are delighted to announce that GSR Markets UK Ltd has officially secured approval from @TheFCA as a registered crypto asset business!
2/ This significant milestone establishes GSR as the first crypto liquidity provider to secure regulatory approvals from the FCA & MAS.
Source

With this FCA registration, GSR Markets UK Limited is authorized to offer over-the-counter (OTC) and programmatic execution crypto asset trading services to clients, including those in the United Kingdom. This development reflects GSR's commitment to maintaining the highest regulatory standards while delivering secure and efficient trading solutions.

This development also positions GSR as the first crypto liquidity provider to attain dual regulatory authorization from both the FCA and the Monetary Authority of Singapore (MAS). In April 2024, GSR Markets received its full Major Payment Institution (MPI) license from MAS, allowing the firm to conduct multiple payment services and exceed volume limitations previously imposed on payment firms.

Xin Song, Group CEO of GSR, remarked on the development as a significant milestone for the firm that would catalyze the expansion of GSR's services to clients globally.

"Receiving FCA approval marks a significant milestone in our mission to shape a more transparent, inclusive global crypto trading ecosystem. 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."

Jakob Palmstierna, CEO of GSR Markets UK Limited and President of GSR Group, added:

"With crypto markets performing strongly and Bitcoin reaching all-time highs, this achievement comes at an opportune time. Demand for reliable, regulated trading solutions has never been greater, and this new registration allows us to further support clients as they navigate the dynamic, rapidly growing market."

GSR's presence in the UK is substantial, with over 120 employees, making it one of the largest crypto-native employers in the region. The firm is poised to engage constructively with UK policymakers as the country's comprehensive regulatory framework for digital assets continues to develop.

The FCA's approval comes at a time when the demand for regulated crypto trading solutions is on the rise, especially following Bitcoin's surge past the $100,000 mark in December 2024, which attracted substantial institutional investment. The UK's regulatory landscape for cryptocurrency firms is evolving, with the FCA introducing new rules to align them with traditional financial standards. These regulations encompass capital requirements, insider trading policies, order handling, execution protocols, and risk management strategies.

This FCA approval enhances GSR's credibility and also reinforces its position as a leader in the global cryptocurrency market. A discussion paper on market abuse, including inside information disclosure, is expected in the last quarter of 2024, followed by more detailed rules in the first half of 2025. The FCA aims for full implementation of these regulations by 2026.

Established over a decade ago, GSR offers a suite of services, including OTC Trading, Market Making, and Treasury Management. The firm is integrated into every major sector of the digital asset ecosystem, collaborating with token issuers, institutional investors, miners, and leading trading venues.

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