<p>Crypto market maker GSR has received FINRA approval to complete its acquisition of broker-dealer Equilibrium Capital Services.</p>
<p>“Today marks a significant step forward for GSR’s U.S. operations,” GSR CEO Xin Song said in a statement shared with The Block. “Completing this acquisition strengthens our U.S. presence and enhances our ability to support institutional clients through a regulated broker-dealer platform as digital asset markets continue to evolve.”</p>
<p>In particular, GSR’s broker-dealer could see the firm expand its tokenization operations, including helping prospective issuers raise capital.
GSR representatives have previously told The Block the business is essentially attempting to become a web3 investment bank. </p>
<p>GSR first announced its intention to acquire the Portland-based, Securities and Exchange Commission-registered broker-dealer in October 2025.
