S'pore licenses crypto market maker GSR

The licence will allow the firm to carry out its spot over-the-counter and market making services within the city-state’s regulatory framework. — Bloomberg

SINGAPORE: Singapore authorities awarded a licence 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 licence from the Monetary Authority of Singapore (MAS),” Xin Song, chief executive officer of GSR Singapore, said in a statement.