Gemini Acquires Major Payment Institution License in Singapore
Gemini, a prominent cryptocurrency exchange, has marked a significant milestone by acquiring a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This key development enables Gemini Digital Payments Singapore, the company’s local branch, to offer digital payment token services and facilitate cross-border money transfers without the limitations on transaction volumes that typically apply to standard payment providers.
Commitment to Singapore’s Digital Finance Landscape
Originally granted in-principle approval almost two years ago, the official license award demonstrates Gemini’s commitment to establishing a robust presence in Singapore’s fast-growing digital finance landscape. The MAS directory list underscores Gemini’s expanded capabilities, allowing it to operate more freely in terms of transaction volumes than traditional payment institutions, though it is still subjected to stricter regulatory oversight due to the scale of its operations.
Leadership Insights
Cameron Winklevoss, co-founder and president of Gemini, noted that the exchange has been serving Singaporean clients since 2020, while his brother, CEO Tyler Winklevoss, highlighted Singapore as a pivotal location for addressing the needs of both retail and institutional clients.
Transition and Services Offered
Since receiving MAS’s in-principle approval in October 2024, Gemini has transitioned its Singaporean customers from its previous operating entity, Gemini Trust Company, to its newly established local subsidiary as of April 2025 while awaiting full regulatory endorsement. The services provided by Gemini in Singapore include spot trading of cryptocurrencies, digital asset custody, and over-the-counter trading, marking its significant entry into the regional market.
