GSR
InfrastructureActive

GSR

Survivor bias is real, but so is the counterparty trust they've built. In illiquid markets, relationships ARE the moat.

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Brief

Veteran crypto market maker (since 2013). Liquidity, OTC trading, structured products, programmatic execution. Valued $1B+ following SC Ventures (Standard Chartered fintech arm) strategic investment May 2026. Pursuing Web3 investment bank model via Libeara partnership ($1B+ in tokenized RWAs supported on Libeara). Acquired Autonomous and Architech (March 2026, $57M) for integrated capital markets + treasury platform.

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Snapshot

Key terms and identifiers.

Asset classes
Commodities, Private credit, Treasuries
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Connections

Who they build with, build on, integrate with.

Dependency

Where this player builds on, integrates, or relies on others.

Tension

Direct competition or overlapping market position.