GSR Markets Pte. Ltd., the Singaporean subsidiary of global cryptocurrency trading firm GSR, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). Announced on October 2, 2023, this regulatory milestone is a significant advancement in GSR’s journey to become a fully licensed entity. The approval allows GSR to better serve the cryptocurrency community in both Singapore and the broader Asia-Pacific region, reinforcing its commitment to compliance and governance in the rapidly evolving digital asset space.
The In-Principle Approval for GSR comes just a day after Coinbase Singapore revealed that it had secured a full Major Payment Institution licence from MAS. This follows earlier announcements from Circle, Blockchain.com, and Crypto.com, who also obtained MPI licenses earlier this year. The series of approvals from MAS highlights the competitive yet regulated…
