{"id":61923,"date":"2023-10-03T00:54:15","date_gmt":"2023-10-03T00:54:15","guid":{"rendered":"http:\/\/egrowonline.com\/?p=61923"},"modified":"2023-10-03T00:54:15","modified_gmt":"2023-10-03T00:54:15","slug":"crypto-liquidity-provider-gsr-receives-regulatory-approval-in-singapore","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=61923","title":{"rendered":"Crypto liquidity provider GSR receives regulatory approval in Singapore"},"content":{"rendered":"


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Cryptocurrency trading firm and liquidity provider GSR\u2019s Singaporean subsidiary, GSR Markets Pte. Ltd, has received<\/a> an in-principal approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.\u00a0<\/p>\n

\u201cGSR is proud to have met the rigorous admission requirements set by MAS and will be working diligently towards a full license,\u201d the firm said in its Oct. 2 announcement. GSR plans to use its Singaporean subsidiary as a hub for expanding into the Asia-Pacific region.\u00a0<\/p>\n

An MPI license allows institutions to provide crypto and fiat-related services to residents of Singapore. Licensed firms are authorized to conduct payment services without being subjected to single transaction limits of 3 million Singaporean dollars ($2.2 million) and monthly limits of 6 million Singaporean dollars ($4.4 million). \u201cMAS has led the way providing a clear framework for digital asset utility,\u201d said Xin Song, chief operating officer of GSR.<\/p>\n

Founded in 2013 in New Jersey, the firm conducts over-the-counter crypto trading alongside derivatives, market making and venture capital investments. The firm holds Money Service Business licenses across several states.<\/p>\n

On Oct. 1, Cointelegraph reported that crypto exchange Coinbase obtained a full MPI license<\/a> from the MAS. The regulatory approval allows Coinbase to offer digital token services to both individuals and institutions in Singapore.<\/p>\n

According to data provided<\/a> by Coinbase, 25% of surveyed Singaporeans consider crypto to be the future of finance, with 32% of respondents claiming that they are either current or past crypto owners. The city-state is home to over 700 Web3 companies.<\/p>\n

Magazine:\u00a0Are DAOs overhyped and unworkable? Lessons from the front lines<\/a><\/em><\/strong><\/p>\n<\/div>\n


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Cryptocurrency trading firm and liquidity provider GSR\u2019s Singaporean subsidiary, GSR Markets Pte. Ltd, has received an in-principal approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.\u00a0 \u201cGSR is proud to have met the rigorous admission requirements set by MAS and will be working diligently towards a full license,\u201d the […]<\/p>\n","protected":false},"author":1,"featured_media":61924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[5613,62,17863,2833,4857,1414,1323,8820],"class_list":["post-61923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-approval","tag-crypto","tag-gsr","tag-liquidity","tag-provider","tag-receives","tag-regulatory","tag-singapore"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/10\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMTAvYjM3MjJjNjAtYzQ5OS00M2U0LWE2NWMtZmJjOWY5ODQwZGI4LmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61923"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61923\/revisions"}],"predecessor-version":[{"id":61925,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/61923\/revisions\/61925"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/61924"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61923"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}