GSR Markets has received in-principle approval for a major payment institution license in Singapore

ChainCatcher news, according to The Block, cryptocurrency market maker GSR's Singapore subsidiary GSR Markets has received in-principle approval for a Major Payment Institution Licence issued by the Monetary Authority of Singapore (MAS).

According to a statement, this will help GSR deepen its roots in the Singapore market and view it as a hub for investing in and promoting the adoption of web3 technology. GSR expressed pride in meeting the MAS entry requirements and is working towards obtaining a full license in Singapore.