The cryptocurrency company GSR Markets UK, a subsidiary of the global firm GSR, has received a license from the UK Financial Regulatory Authority (FCA), which allows it to officially provide services in the field of cryptocurrencies.

The FCA approval makes GSR the first company to have dual regulatory approval in both the UK and Singapore. The company will now be able to provide software and over-the-counter (OTC) trading services, as well as liquidity solutions for institutional clients in the UK.

GSR CEO Shin Sung noted that these licenses will allow the company to confidently expand its services to customers around the world, supporting them in the dynamically developing cryptocurrency market.

In addition, the company recently received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, which allows it to make payments in excess of $2.2 million.