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Market Maker & Liquidity

GSR Markets

Institutional-grade crypto market maker and liquidity provider with a decade of track record

SingaporeEst. 2013300+ professionals
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Quick Facts

Best For
Token projects and institutional clients seeking a decade-long track record and sophisticated risk management in market-making
Pricing
Bespoke arrangements based on token profile and liquidity requirements

Overview

GSR is one of the longest-established institutional crypto market makers, founded in 2013 when Bitcoin was still a niche asset and institutional liquidity provision was essentially non-existent. The firm's decade of experience across multiple market cycles gives it a risk management depth that newer market makers cannot match. GSR provides programmatic liquidity, OTC trading, structured products, and treasury management for token projects — and its institutional relationships with major exchanges and custodians make it the preferred partner for projects seeking credible, established liquidity infrastructure.

Focus Areas

Token Market MakingOTC TradingStructured Crypto ProductsTreasury ManagementExchange LiquidityRisk Management

Who They Work With

Token IssuersInstitutional InvestorsCrypto ExchangesDeFi ProtocolsCorporate Treasury Teams

Notable Work

Market-making across dozens of major token projects over a decade; institutional OTC trading and structured products.

Office Locations

LondonNew YorkHong Kong

Frequently Asked Questions about GSR Markets

How are GSR Markets arrangements typically structured?
GSR provides bespoke arrangements based on each token project's profile and liquidity requirements — covering programmatic market-making (algorithmic liquidity provision), OTC trading, structured crypto products, and treasury management. Unlike firms with standardised models, GSR tailors the arrangement to the specific exchange distribution, trading volume, and token economics of each client. Independent legal and financial advice is recommended before signing.
How long has GSR been operating in crypto?
GSR was founded in 2013 — making it one of the longest-established institutional crypto market makers in the world, with over a decade of continuous operation across every major market cycle. This longevity is a genuine differentiator: GSR has managed liquidity through the 2017 bull market, the 2018-2019 bear market, the 2020-2021 cycle, and the 2022 crash — experience that newer market makers cannot replicate.
Does GSR offer services beyond market-making?
Yes — GSR provides OTC trading, structured crypto products, and treasury management alongside its core market-making offering. For institutional token projects with complex treasury needs (managing large token reserves, hedging exposure, or creating bespoke derivative instruments), GSR's broader institutional product set provides options that pure market makers cannot match.
What makes GSR suitable for institutional token projects?
GSR's decade of track record, institutional counterparty relationships with major exchanges and custodians, and sophisticated risk management capabilities make it the preferred choice for institutional-grade token projects where counterparty credibility matters. For projects backed by institutional investors who will scrutinise the market-making arrangement during due diligence, GSR's longevity and regulatory standing provide comfort that newer market makers cannot.
What types of tokens does GSR work with?
GSR has provided market-making for dozens of major token projects over its decade-long history — spanning L1 and L2 protocol tokens, DeFi governance tokens, exchange tokens, and infrastructure tokens. The firm's scale and institutional relationships give it access to the major centralised exchanges required for effective liquidity provision across the most liquid trading pairs.
Does GSR require minimum token liquidity or market cap?
GSR focuses on institutional-grade token projects with meaningful market capitalisation and exchange listings — its infrastructure and pricing model are optimised for projects at a scale where professional market-making significantly impacts market quality. Very early-stage or low-liquidity tokens are generally not within GSR's target client profile; the firm is most relevant once a project has established exchange listings and meaningful secondary market activity.

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