Singapore Licenses Crypto Market Maker GSR in Rare Step for Industry
- GSR received in-principle approval from Singapore in September
- City-state recently widened its regulatory ambit for crypto
Singapore authorities awarded a license to crypto market maker GSR Markets, a rare step in the digital-asset sector where liquidity providers globally still largely operate without regulatory permits.
The company is one of the first of its kind to be granted a Major Payment Institution license from the Monetary Authority of Singapore, Xin Song, chief executive officer of GSR Singapore, said in a statement on Thursday.