GSR, the global cryptocurrency trading firm and liquidity provider, announced that its Singapore subsidiary, GSR Markets Pte. Ltd. (GSR Singapore) has received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS). This milestone follows GSR receiving the in-principle approval for a MPI licence from MAS in September 2023. This licence brings the existing spot OTC, market making and programmatic execution services that the firm offers to clients in the region under the framework of Singaporeâs Payment Services Act.
âWe are proud to receive the MPI licence from MAS, a regulator that promotes sustainable non-inflationary economic growth, and a sound and progressive financial centre,â said Jakob Palmstierna, GSR Group CEO.
âSingaporeâs role as a leading financial centre continues to strengthen. With this licence from one of the worldâs most respected regulators, our clients should have even greater confidence in the rigour and quality of our standards, policies and procedures,â added Xin Song, GSR Group COO and CEO of GSR Singapore. âAs one of the first firms of our type to be granted this licence, we are excited to continue to lead the way in developing fair and orderly markets for digital assets.â
GSR remains committed to collaborating with projects and exchanges within the APAC region, aiming to encourage widespread adoption of blockchain technology and support the development of a vibrant digital assets ecosystem.
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