According to Foresight News and reported by The Block, GSR Markets UK Limited, a subsidiary of cryptocurrency trading and liquidity provision company GSR, has been approved by the UK's Financial Conduct Authority (FCA) to become a registered crypto asset firm, allowing it to provide cryptocurrency trading and other services to UK clients.
GSR Group CEO Xin Song stated: "Receiving approval from the FCA 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 institutional and professional clients worldwide while continuing to uphold 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.