Cryptocurrency market maker GSR has agreed to acquire Equilibrium Capital Services, a Portland-based broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority (FINRA).
The deal, which is subject to regulatory approval, will give GSR a licensed entry point into U.S. securities markets. The company did not disclose financial terms.
Expanding Regulated Access
Equilibrium’s registration allows it to provide brokerage services under U.S. securities laws. By bringing the firm under its umbrella, GSR plans to broaden its ability to serve institutional clients who want regulated exposure to digital assets.
“This acquisition reflects our focus on serving both entrepreneurs and large investors seeking compliant access to crypto markets,” GSR chief executive Xin Song said in a statement.
For GSR, best known for its global market-making and liquidity operations, the deal marks a step toward offering products that fall under U.S. securities oversight at a time when regulators continue to refine the rules governing digital assets.
To manage the acquisition process, GSR worked with Compliance Exchange Group (CXG) for regulatory guidance and tapped BrokerDealerForSale.com to arrange the transaction.
The move follows a series of initiatives by GSR to expand its footprint in regulated markets. In recent months, the firm partnered with Singapore-based DigiFT to open institutional access to tokenized real‑world assets. It has also invested in Maverix Securities, a broker‑dealer focused on developing structured products.
GSR has been active in digital‑asset treasury management as well, running strategies for Nasdaq‑listed companies including MEI Pharma and Upexi.
The Equilibrium acquisition adds a U.S.-regulated broker‑dealer license to that portfolio, positioning GSR to offer clients more direct market access while operating under established compliance frameworks.
Industry Context
The deal comes as crypto firms seek ways to integrate into traditional regulatory systems amid heightened scrutiny from U.S. agencies. With the Securities and Exchange Commission stepping up enforcement actions and Congress weighing new rules on tokenized products, market participants are looking to broker‑dealer and alternative trading system licenses to bridge digital assets with securities law.
For GSR, the purchase strengthens its U.S. presence at a time when institutional investors are showing greater interest in digital assets beyond Bitcoin and Ethereum, particularly in tokenized funds and real‑world asset products.
Founded in 2013, GSR has grown into one of the largest digital‑asset market makers, providing liquidity services to exchanges, protocols and token issuers. Adding a U.S. broker‑dealer under its structure could accelerate its push to design regulated investment products for American institutions.
The transaction is pending approval from U.S. regulators.