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Acquisition aims to expand GSR’s U.S. footprint and strengthen its regulated services for institutions
By Ian Allison, AI Boost|Edited by Nikhilesh De
Oct 2, 2025, 2:03 p.m.
- GSR signed an agreement to purchase Portland-based broker-dealer Equilibrium Capital Services.
- The deal, which is subject to regulatory approval, is intended to bolster U.S. institutional market access.
- The acquisition follows GSR’s push into tokenized assets and digital-asset treasury strategies.
Cryptocurrency market maker GSR has signed an agreement to acquire Equilibrium Capital Services, a Portland-based broker-dealer registered with the SEC and a member of FINRA.
The deal, which is still pending regulatory approval, marks a step toward expanding GSR’s regulated presence in the United States. GSR did not disclose the terms of the Equilibrium Capital deal in its press release.
STORY CONTINUES BELOW
Equilibrium Capital’s registration allows it to provide brokerage services under U.S. securities laws. By bringing it under its umbrella, GSR expects to offer institutional clients a more direct route into digital assets while operating within established compliance frameworks.
GSR executives framed the move as part of a longer-term strategy to deepen its institutional ties in the U.S. Xin Song, the firm’s CEO, said the acquisition reflects GSR’s commitment to serving both entrepreneurs and large investors who want regulated access to crypto markets.
The acquisition comes as regulators continue to shape the rules governing digital assets in the U.S. For a firm like GSR — best known for its global market-making and liquidity services — having a broker-dealer license could open doors to products that fall under securities oversight.
To manage the acquisition process, GSR engaged Compliance Exchange Group (CXG) for regulatory guidance and BrokerDealerForSale.com for the acquisition of Equilibrium Capital Services.
GSR has been steadily building its regulated services portfolio. In recent months, the firm has expanded institutional access to tokenized real-world assets through a partnership with DigiFT, according to a press release.
The market making firm also invested in Maverix Securities to support the development of regulated structured products, and led digital-asset treasury investment strategies for Nasdaq-listed companies, including MEI Pharma and Upexi.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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