GSR Receives Approval from U.S. FINRA, Completes Acquisition of Proprietary Broker-Dealer Equilibrium
On June 9, U.S. crypto market maker GSR secured approval from the Financial Industry Regulatory Authority (FINRA) to finalize its acquisition of proprietary broker-dealer Equilibrium Capital Services. GSR CEO Xin Song commented, “Today marks a key milestone for GSR’s U.S. operations. Finalizing this acquisition will bolster our U.S. footprint and strengthen our ability to support institutional clients via a regulated broker-dealer platform— a growing priority as the digital asset market continues to mature.” Looking ahead, GSR’s new broker-dealer business will drive its expansion into tokenization, including helping potential issuers with fundraising. The firm’s representatives previously told The Block that this unit is effectively aiming to build a “Web3 investment bank.”