Crypto exchange Gemini has received a Major Payment Institution licence from the Monetary Authority of Singapore, completing a transition that began with in-principle approval in October 2024.
The Monetary Authority of Singapore awarded the licence to Gemini Digital Payments Singapore, the company's locally incorporated entity, authorising it to provide digital payment token services and cross-border money transfers. MPI status removes the transaction-volume limits that apply to standard payment institutions, though MAS subjects major licence holders to more comprehensive regulatory oversight on the grounds that their scale carries greater systemic risk.
Gemini migrated its Singapore customer base from Gemini Trust Company — which had operated under a regulatory exemption — to the local entity in April 2025 while the final application was pending. The exchange offers spot trading, digital asset custody, and over-the-counter services in the market. Cameron Winklevoss cited six years of Singapore operations; Tyler Winklevoss described the city-state as a hub for both retail and institutional clients across the region.
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