GSR Markets was founded in 2013 by Rich Rosenblum, Alexis Sirkia, and Cristian Gil as a crypto-native market maker and trading firm. Over the past decade, the Hong Kong-based company has grown into one of the most established liquidity providers in digital assets. GSR is an active, multi-stage investor in over 300 companies and protocols building the future of finance and technology . The firm combines market making services with venture capital, offering token projects access to both liquidity and strategic capital.
GSR employs over 300 people around the globe, and its trading technology is connected to 60 trading venues, including the world's leading DEXs . In June 2024, the firm announced a co-CEO structure, appointing Rich Rosenblum and Xin Song as Co-Chief Executive Officers . Rosenblum, who co-founded the company alongside Cristian Gil, brings over two decades of experience in trading, including his tenure at Goldman Sachs . Total assets under management have not been publicly disclosed. The firm operates globally with offices across multiple jurisdictions and has secured regulatory licenses in key markets.
Notable investments
GSR's portfolio spans infrastructure, DeFi, staking, and privacy technologies. Key investments include M0 (universal stablecoin platform), DoubleZero (high-performance blockchain network infrastructure), Kiln (institutional staking), Inco (confidential computing layer), Hashflow (DEX protocol), and Sentient Foundation (decentralized AI). The portfolio includes M0, DoubleZero, Kiln, and protocols focused on lending, staking, and blockchain infrastructure . The firm invests early and maintains involvement through token launches, often providing market making services alongside capital.
Team
Cristian Gil serves as Chairman and Co-Founder . Xin Song joined GSR in 2019 and has rapidly ascended through the ranks before becoming co-CEO in 2024. Jakob Palmstierna served as CEO for two and a half years and transitioned to the role of President in mid-2024. Public information about Alexis Sirkia's current role is limited. Joshua Riezman serves as Chief Legal & Strategy Officer . The team includes traders, engineers, and capital markets professionals with backgrounds in traditional finance and quantitative trading.
Recent activity
Singapore authorities awarded a license to crypto market maker GSR Markets in 2024, and GSR announced the approval by the UK's Financial Conduct Authority (FCA) of GSR Markets UK Limited as a registered crypto asset business . In December 2024, GSR announced the $57 million acquisition of Autonomous and Architech, significantly expanding the firm's ability to support tokenized organizations from formation through scale . The firm has also been active in ecosystem development, hosting developer events and conferences globally. GSR continues to expand its institutional platform and venture portfolio during the current market cycle.
GSR occupies a unique position as both capital provider and market infrastructure. Its dual role as liquidity provider and investor creates synergies but also potential conflicts that require careful management. The firm's recent regulatory approvals in Singapore and the UK signal a commitment to operating within established frameworks. With over a decade of market expertise and a portfolio exceeding 300 projects, GSR has positioned itself as a long-term participant in crypto markets. The firm's challenge will be maintaining quality as portfolio size grows and navigating an increasingly competitive landscape where traditional finance firms enter the space with deeper pockets.
