Amid rising global demands for transparency, security, and regulatory compliance in the digital asset market, decentralized cryptocurrency futures trading platform GAIN has recently drawn broad industry attention. On August 19, 2025, GAIN announced that it had officially obtained Money Services Business (MSB) registration from the U.S. Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury. At the same time, the platform confirmed that its global registered user base has surpassed one million. The simultaneous achievement of regulatory registration and user-scale growth marks a notable milestone in GAIN’s ongoing efforts toward international expansion and compliance-oriented operations.
The MSB registration is a federally recognized financial services designation in the United States and serves as an important regulatory prerequisite for companies engaging in activities such as virtual asset trading, fund transfers, and payment-related services within the U.S. and certain affiliated jurisdictions. To obtain this registration, entities are required to meet a range of compliance obligations, including adherence to the Bank Secrecy Act (BSA), the establishment of comprehensive anti–money laundering (AML) and counter-terrorist financing (CTF) frameworks, the appointment of dedicated compliance personnel, and the completion of independent third-party audits. Given FinCEN’s reputation for a stringent regulatory framework within the global virtual asset industry, successful registration is generally regarded as an indication that an organization has met relatively high standards in areas such as risk management, internal governance, and information transparency.
GAIN stated that securing MSB registration not only demonstrates the platform’s compliance governance capabilities, but also provides a regulatory foundation for conducting related financial services activities in the U.S. market. Following this development, GAIN is advancing the next phase of its global compliance strategy and plans to progressively pursue relevant regulatory approvals across major jurisdictions, including the UK’s Financial Conduct Authority (FCA), the European Union’s MiCA framework, the Monetary Authority of Singapore (MAS), and Hong Kong’s VASP regime, with the aim of establishing a multi-jurisdictional compliance operating network.
From a business development perspective, GAIN’s user base has continued to expand at a steady pace. According to platform data, the number of registered users worldwide has exceeded one million. The platform currently supports futures trading across more than 50 major and emerging cryptocurrency pairs, and plans in subsequent phases to broaden its product offerings to include tokenized derivatives linked to traditional financial assets, such as U.S. equities and exchange-traded funds (ETFs). Through an on-chain, verifiable trading architecture, support for multi-asset settlement, and a 1:1 asset custody framework, GAIN aims to provide global users with a trading environment that emphasizes fairness, transparency, and operational efficiency.
As a platform centered on decentralization and on-chain transparency, GAIN emphasizes that all trades are executed automatically through smart contracts, with relevant transaction data made publicly accessible and independently verifiable. This model reduces reliance on centralized intermediaries and, amid growing industry focus on platform security in recent years, has gained increased recognition from both users and institutional participants.
From a technical architecture standpoint, the GAIN platform is built on a proprietary Layer-2 blockchain network developed specifically for high-frequency financial trading scenarios. The network supports millisecond-level transaction confirmation and high throughput, enabling large-scale on-chain perpetual contract trading. Unlike many decentralized exchanges that rely on automated market maker (AMM) models, GAIN employs an on-chain order book mechanism, which improves matching efficiency while mitigating issues such as slippage and liquidity constraints. This approach is intended to combine the structural advantages of decentralization with an execution experience closer to that of centralized exchanges.
In addition, GAIN has implemented targeted optimizations to improve user experience. Through mechanisms such as session-based authorization, the platform reduces the operational complexity associated with frequent transaction signing, allowing on-chain trading to more closely resemble the usability of centralized platforms while preserving the advantages of self-custodied assets. GAIN currently offers perpetual contract products with leverage of up to 200x, alongside spot trading and a pre-launch market for new assets, forming a relatively comprehensive product suite. The platform’s team brings experience from a range of technology companies and financial institutions, with a focus on addressing long-standing challenges in decentralized finance related to performance, transparency, and scalability.
Industry observers note that GAIN’s parallel progress in regulatory compliance, user growth, and technical development reflects broader trends within the decentralized derivatives sector. As global regulatory frameworks continue to take shape, competition among virtual asset platforms is increasingly shifting away from single-product capabilities toward compliance infrastructure, transparency mechanisms, and long-term operational sustainability. In this context, GAIN’s approach is viewed as a representative case in the ongoing exploration of next-generation on-chain financial infrastructure.
Looking ahead, GAIN stated that it intends to continue advancing platform development with a focus on compliance governance, risk management, and technical stability, while steadily expanding its global business footprint within existing regulatory frameworks. By continuously optimizing its on-chain infrastructure and trading mechanisms, the platform aims to enhance transparency and operational efficiency in the decentralized derivatives market, while aligning with the regulatory requirements of different jurisdictions. These initiatives are also viewed as part of GAIN’s broader exploration of long-term, sustainable operating models amid a global digital asset regulatory environment that is becoming increasingly defined.