Crypto market maker GSR has received approval from FINRA, the US financial industry regulator, to complete its acquisition of Equilibrium Capital Services, a Portland-based, SEC-registered broker-dealer. GSR first announced the deal in October 2025, marking a significant step in its push to expand into regulated US financial infrastructure. FINRA approval is a critical regulatory milestone for broker-dealer transfers, requiring scrutiny of the acquiring firm's financial stability, compliance frameworks, and management. By securing a registered broker-dealer licence, GSR gains broader access to US capital markets and can offer a wider range of regulated financial services to institutional clients. The move reflects a growing trend of crypto-native firms pursuing traditional financial licences as regulatory clarity in the United States continues to develop.
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