Crypto News – The Monetary Authority of Singapore (MAS) granted GSR Markets, a cryptocurrency trading company and liquidity provider, a full major payment institution (MPI) license.
GSR Markets MPI License: Crypto Liquidity Firm Now Able to Operate in Singapore
Following in-principle clearance in October 2023, GSR apparently obtained a license on April 4. According to GSR Singapore CEO Xin Song, the company is the first of its kind to be granted an MPI license in the nation. Under the supervision of Singapore’s central bank, GSR would be able to carry out its over-the-counter (OTC) spot and market-making activities due to the license.
Singapore’s regulatory measures facilitate financial institutions’ investigation of blockchain-based technology, thereby positioning the nation as a hub for digital assets. In order to provide their services within the nation, numerous cryptocurrency businesses that are aiming to expand into the area have sought to obtain the MPI license.
About GSR Markets
GSR is a prominent trading company in the cryptocurrency ecosystem, having been founded in 2013. GSR has managed international trading and quant enterprises for many years. In addition to holding money service business licenses in many US states, it also engages in OTC cryptocurrency trading, derivatives, market making, and venture capital investments.
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