Crypto Market Maker GSR Awarded Major Payment Institution License by MAS in Singapore
GSR, a crypto market maker and liquidity provider, has been granted a Major Payment Institution license by the Monetary Authority of Singapore (MAS), which allows them to buy and sell "digital payment tokens". This license is also held by exchanges. GSR received in-principal approval from MAS in September and recently appointed a former JP Morgan executive as its head of trading. Singapore has expanded its licensing regime to include custodial services and cross-border money transfers.
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