GSR gains FCA approval to expand crypto services in UK

GSR Markets UK, a subsidiary of the global cryptocurrency trading firm GSR, has obtained regulatory approval from the UK’s Financial Conduct Authority (FCA), allowing the firm to operate as a licensed crypto asset business. 

This approval makes GSR the first crypto liquidity provider to secure dual regulatory authorisation from both the FCA and Singapore’s Monetary Authority of Singapore (MAS).

The approval enables GSR to expand its services in the UK, including over-the-counter (OTC) and programmatic execution trading. 

This comes as institutional interest in regulated crypto trading solutions has been rising, especially after Bitcoin’s price surpassed $100,000 in December 2024.

Xin Song, CEO of GSR, expressed that the dual regulatory approval will allow the firm to expand its services to institutional and professional clients globally. 

GSR’s expansion comes amid the FCA’s ongoing efforts to provide a safer, more transparent crypto environment, despite recent regulatory crackdowns.

Jakob Palmstierna, CEO of GSR Markets UK, said that this approval will allow the company to better serve its clients as the crypto market continues to evolve. 

With over 120 employees in the UK, GSR is one of the significant crypto-native employers in the region.

In addition to its UK approval, GSR received a full major payment institution (MPI) license from the MAS in Singapore, which allows the firm to conduct a broader range of payment services and exceed volume limitations for payment firms. 

The license was granted in April 2024 after an in-principle approval in October 2023.