BlockBeats News, June 9th, Crypto market maker GSR has received approval from the Financial Industry Regulatory Authority (FINRA) in the United States to complete the acquisition of the proprietary broker-dealer Equilibrium Capital Services.
GSR CEO Xin Song stated, "Today marks an important step forward for GSR's U.S. business. Completing this acquisition will strengthen our presence in the U.S. and enhance our ability to support institutional clients through a regulated broker-dealer platform, which is particularly important as the digital asset market continues to evolve."
Specifically, GSR's broker-dealer business is expected to drive its expansion in tokenization, including assisting potential issuers with fundraising. GSR representatives had previously told The Block that the business is essentially trying to build a "Web3 investment bank."
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