GSR is assembling a vertically integrated Cayman pipeline: on September 2 it registered two entities under SIBA and [disclosed its acquisition of Autonomous](https://www.gsr.io/insights/gsr-expands-regulated-footprint-for-the-onchain-future-of-finance), which handles foundation formation, governance design and treasury management. Charter doubles as a pre-TGE customer-acquisition funnel, feeding foundation clients into treasury and market-making through GSR Markets Cayman Limited and GSR Capital (Cayman) Limited.

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