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GSR, a leading crypto market maker and liquidity provider, has been granted a major payment institution license by the Monetary Authority of Singapore (MAS). This marks the first time Singapore has issued such a license to a crypto market maker.
<h2 id="gsr-becomes-first-crypto-market-maker-to-receive-singapore-license">GSR Becomes First Crypto Market Maker to Receive Singapore License</h2>
The license obtained by GSR is Singapore's Digital Payment Token Service licence, which allows firms to trade “digital payment tokens”, the government's term for cryptocurrencies.
This license is compatible with the permissions typically required by exchanges operating in the cryptocurrency space.
GSR's journey to secure this milestone began with approval in principle from MAS in September.
This achievement comes at a time when Singapore has expanded the scope of its licensing regime to include custody services and cross-border money transfers, reflecting the country's commitment to comprehensively regulate the burgeoning crypto market.
Traditionally, liquidity providers and market makers have not been subject to licensing requirements because they do not interact directly with customers.
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However, GSR's successful acquisition of the Digital Payment Token Service license underscores the evolving regulatory environment surrounding crypto-related activities.
Earlier this year GSR made headlines with the appointment of Andreas Koukorinis, a former JP Morgan executive, as its new head of trading.
This move signaled GSR's strategic intention to strengthen its trading operations and further solidify its presence in the cryptocurrency market.
News of GSR's licensing success was first reported by Bloomberg, highlighting the importance of this milestone for the company and the broader crypto industry.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/crypto-market-maker-and-liquidity-provider-gsr-received-a-major-payment-institution-license-from-this-country/" rel="noopener noreferrer nofollow">Crypto Market Maker and Liquidity Provider GSR Received a Major Payment Institution License from This Country!</a>

Crypto Market Maker and Liquidity Provider GSR Received a Major Payment Institution License from This Country!

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