Crypto Trading Firm GSR Receives Payment License from Monetary Authority of Singapore
Crypto News

Crypto Trading Firm GSR Receives Payment License from Monetary Authority of Singapore

1m
Created 4mo ago, last updated 4mo ago

The Monetary Authority of Singapore (MAS) has granted preliminary approval to GSR Markets, the Singaporean affiliate of cryptocurrency trading business GSR.

Crypto Trading Firm GSR Receives Payment License from Monetary Authority of Singapore

Cryptocurrency Trading Firm GSR Has Received A Payment License From The Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) has granted preliminary approval to GSR Markets, the Singaporean affiliate of cryptocurrency trading business GSR, for a Major Payment Institution (MPI) license. The MPI license will allow GSR to provide crypto and fiat-related services to Singapore residents without being subject to transaction or monthly limits.

GSR plans to use its Singaporean subsidiary as a foundation for further expansion within the Asia-Pacific area. The firm expressed satisfaction with meeting MAS's stringent entry requirements and pledged to work towards a full license.

GSR, situated in New Jersey, was created in 2013 and specializes in over-the-counter crypto trading, derivatives, market making, and venture capital investments.

This news follows Coinbase's recent announcement of obtaining a full MPI license from MAS, allowing it to provide digital token services in Singapore.

Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article