Cryptocurrency trading firm GSR has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution license for its Singapore subsidiary, GSR Markets. The license is a “milestone” for the company and will deepen local partnerships, said COO Xin Song. GSR will continue to operate as a liquidity provider and also invest in entrepreneurs across APAC from its Singapore hub. MAS has provided a clear framework for digital asset utility, said Song.