According to Foresight News, as reported by The Block, GSR's cryptocurrency trading and liquidity provision company, GSR Markets UK Limited, has received approval from the UK's Financial Conduct Authority (FCA) to become a registered crypto asset business, allowing it to provide crypto asset trading services to UK clients.
GSR Group CEO Xin Song stated: "Obtaining FCA approval is an important milestone in our commitment to building a more transparent and inclusive global cryptocurrency trading ecosystem. This enables GSR to confidently expand services to global institutional and professional clients while continuing to maintain our consistent high-quality service and integrity." Previously, GSR's Singapore branch obtained a major payment institution license from the Monetary Authority of Singapore in April 2024 to provide over-the-counter trading and market-making services.