The June 9 approval clears GSR to complete its purchase of proprietary broker-dealer Equilibrium Capital Services, adding a regulated U.S. platform for institutional clients and possible expansion into tokenization and issuer fundraising.
Crypto market maker GSR said on June 9 it received approval from FINRA, the U.S. brokerage industry regulator, to complete its acquisition of proprietary broker-dealer Equilibrium Capital Services. GSR said the transaction will deepen its U.S. footprint and add a regulated broker-dealer platform to serve institutional clients, while CEO Xin Song said it could also support expansion into tokenization and issuer fundraising.