Gemini receives Singapore payment license for crypto services
Gemini’s local entity is authorized to provide digital payment token and cross-border money transfer services without standard transaction-volume limits.
Gemini, a prominent crypto exchange, has secured a Major Payment Institution (MPI) license from Singapore's Monetary Authority. This marks a significant milestone in Gemini's expansion, completing its transition from an in-principle approval obtained nearly two years ago. The new license allows Gemini Digital Payments Singapore, its local entity, to offer regulated payment services without the transaction-volume restrictions typically imposed on standard payment institutions.
The MAS Financial Institutions Directory confirms Gemini's authorization to provide digital payment token services and cross-border money transfers. While MPI license holders face more rigorous regulation due to the scale of their operations, Gemini President and co-founder Cameron Winklevoss highlighted the company's longstanding presence in Singapore since 2020.
CEO Tyler Winklevoss emphasized Singapore's strategic importance as a hub for serving both retail and institutional clients. Gemini now provides spot crypto trading, digital asset custody, and over-the-counter services in the country. The full license follows MAS's earlier in-principle approval in October 2024, and in April 2025, Gemini relocated its Singapore customers from an exempted entity to its locally incorporated company as it finalized the approval process.
Gemini plans to further expand its services by distributing crypto prediction markets through Apex brokerages.
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