GSR Receives FINRA Approval to Complete Broker-Dealer Acquisition, Accelerating Expansion of Institutional Crypto Business in the U.S.
TechFlow News, June 09: According to The Block, crypto market maker GSR has received approval from the U.S. Financial Industry Regulatory Authority (FINRA) to complete its acquisition of Portland-based SEC-registered broker-dealer Equilibrium Capital Services, which has now been renamed GSR Securities. GSR CEO Xin Song stated that this acquisition will strengthen GSR’s compliant broker-dealer platform in the United States, with a focus on serving institutional clients.
GSR previously announced its strategic positioning as a “Web3 investment bank.” Following the acquisition, it will further expand its tokenized financing business. Additionally, GSR has been highly active this year: In April, it launched the GSR Crypto Core3 ETF on Nasdaq; in March, it acquired token advisory firms Autonomous and Architech, and invested in Libeara—the tokenization platform under SC Ventures; last month, SC Ventures—the fintech investment arm of Standard Chartered Bank—became GSR’s first external shareholder and completed its investment.
