GSR has been approved by FINRA to complete the acquisition of securities firms and accelerate the layout of institutional encryption business in the United States On June 9th, according to The Block, cryptocurrency market maker GSR has received approval from the US Financial Industry Regulatory Authority (FINRA) to officially complete the acquisition of Equity Capital Services, a Portland SEC registered securities firm, which is now renamed GSR Securities. GSR CEO Xin Song stated that this acquisition will strengthen its compliance brokerage platform capabilities in the United States, with a focus on serving institutional clients. GSR has previously disclosed plans to position its business as a "Web3 investment bank" and further expand its tokenization financing business after the acquisition is completed. In addition, GSR has been active this year: launching the GSR Crypto Core3 ETF on NASDAQ in April, acquiring token consulting firms Autonomous and Architech in March, and investing in SC Ventures' tokenization platform Libeara; Last month, SC Ventures, the fintech investment arm of Standard Chartered Bank, became the first external shareholder of GSR and completed its capital injection.