The license allows GSR Markets to offer its over-the-counter trading and market-making services in Singapore legally.
Crypto trading firm and liquidity provider GSR Markets received its full major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
On April 4, GSR reportedly secured the license after receiving an in-principle approval in October 2023. GSR Singapore CEO Xin Song claimed that GSR is the first of its kind to receive the MPI license in the country.
MPI-licensed companies in Singapore are authorized to conduct multiple payment services and exceed volume limitations for payment firms.
