GSR Markets UK, a subsidiary of global cryptocurrency trading company GSR, has received regulatory approval from the UK’s Financial Conduct Authority (FCA), allowing the company to operate as a trading business. licensed crypto assets.
According to a press release, this approval makes GSR the first crypto-liquidity provider to obtain dual regulatory approval from the FCA and the Monetary Authority of Singapore (MAS).
GSR’s expansion of its operational reach will enable the company to facilitate services such as over-the-counter (OTC) trading and programmatic execution for UK clients.
FCA green light comes as demand for regulated crypto trading solutions surges from Bitcoin 
BTCUSD crossed the $100,000 milestone in December 2024 and institutional investments entered the market throughout the year.
Eva Sanchez, GSR’s legal director, told Cointelegraph that the company was optimistic about the “growth potential of the UK crypto market.”
Dual regulatory compliance
Despite recent crackdowns, including the ban on Pump.fun in the UK, the FCA has been pushing for progressive crypto regulation to improve security and market transparency for consumers.
GSR Group CEO Xin Song said the dual approvals will enable the company to “confidently expand (its) services to institutional and corporate clients around the world.”
GSR Markets UK’s dual approval means it adheres to the regulatory standards of the major global markets of the UK and Singapore.
Expansion of services
With the FCA’s approval, the company can now meet a growing demand for regulated and trusted crypto trading services, as industry players increasingly seek compliant trading platforms in crypto markets.
Jakob Palmstierna, CEO of GSR Markets UK, noted that this development will enable the company to better support its clients “as they navigate a dynamic and rapidly growing market”.
According to the release, the company’s global presence includes more than 120 employees in the UK, positioning itself as one of the largest crypto-native employers in the region.
Sanchez told Cointelegraph that the expansion will allow UK users “to access OTC trading and programmatic execution services” through the company’s FCA-registered entity.
MPI License in Singapore
GSR Markets received its full Major Payment Institution (MPI) license from the MAS on April 4, 2024, having received approval in principle from the authority in October 2023.
At the time, Song said it was the first of its kind to receive the MPI license in the country, allowing the company to offer multiple payment services and exceed volume limits imposed on payment companies. payment.
With the MPI license, GSR Markets can exceed the volume limit of SG$3 million ($2.2 million) for a payment service and the monthly limit of SG$6 million ($4.4 million). ) for two or more payment services.
