GSR spokesperson said the deal values the firm at more than US$1 billion and it is also seeking up to US$150 million from strategic investors.

GSR secured SC Ventures backing to expand tokenization, liquidity and institutional digital asset market infrastructure.

Major US banking trade groups have asked the Treasury Department and the FDIC to pause three GENIUS Act rulemaking comment periods until the OCC finalises its primary stablecoin framework, while stablecoin startup Agora simultaneously filed for a national trust bank…