 GSR secures UK FCA approval, expands regulated crypto services 
2025-01-06
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GSR Markets UK, a subsidiary of the global cryptocurrency trading firm GSR, has received regulatory approval from the United Kingdom’s Financial Conduct Authority (FCA), allowing the company to operate as a licensed crypto asset business.
According to a press release, the approval makes GSR the first crypto liquidity provider to achieve dual regulatory authorization from both the FCA and Singapore’s Monetary Authority of Singapore (MAS).
GSR’s expansion of its operational scope will enable the firm to facilitate services such as over-the-counter (OTC) and programmatic execution trading for UK clients.
The FCA’s green light arrives as the demand for regulated crypto trading solutions has grown after Bitcoin BTCUSD broke the $100,000 milestone in December 2024 and institutional investment entered the market throughout the year.
Dual regulatory compliance
Despite recent crackdowns, including banning Pump.fun in the UK, the FCA has been pushing for progressive regulation of crypto to improve market safety and transparency for consumers. 
The Group CEO of GSR Xin Song said that the dual approval will allow the firm to “confidently expand [its] services to institutional and professional clients globally.”
GSR Markets UK’s dual authorization approval means it adheres to the regulatory standards of major global markets in the UK and Singapore. 
Service expansion
With the FCA’s approval, the firm can now cater to a growing demand for regulated and reliable crypto trading services as industry stakeholders increasingly seek compliant trading platforms in crypto markets.
Jakob Palmstierna, CEO of GSR Markets UK, noted that the development will allow the company to better support its clients “as they navigate the dynamic, rapidly growing market.”
According to the release, the firm’s global presence numbers over 120 employees in the UK, positioning itself as one of the largest crypto-native employers in the region.
MPI license in Singapore
GSR Markets received its full major payment institution (MPI) license from the MAS on April 4, 2024, after being issued an in-principle approval from the authority in October 2023.
At the time, Song claimed that it was the first of its kind to receive the MPI license in the country, which would allow the firm to conduct multiple payment services and exceed volume limitations for payment firms.
With the MPI license, GSR Markets can exceed the 3 million Singapore dollars ($2.2 million) volume limit for a payment service and the monthly limit of 6 million SG$ ($4.4 million) for two or more payment services.