Gemini has received a Major Payment Institution licence from the Monetary Authority of Singapore, the exchange announced on September 8. The licence, granted to Gemini Digital Payments Singapore, allows it to operate as an approved payment services provider without low transaction caps. Gemini already offers spot trading, custody, and over-the-counter services in Singapore and must comply with local rules on customer protection, financial crime, and operational controls. Co-founder Cameron Winklevoss said the approval validates the company’s commitment to Singapore, while Tyler Winklevoss called the city-state a strategic centre. The licence grants regulatory permission rather than product guarantees.
Gemini has obtained a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore, according to the exchange’s announcement. The licence was granted on September 8 to Gemini Digital Payments Singapore, the entity covering its business in the country.
An MPI licence permits Gemini to operate as an approved payment services provider in Singapore without the lower transaction limits that smaller payment institutions may face. Gemini must continue to meet Singapore requirements in customer protection, financial crime, and operational controls.
The exchange currently offers spot cryptocurrency trading in Singapore, along with custody and over-the-counter services. Gemini did not specify which products are directly covered by the new licence or whether additional services are planned.
Cameron Winklevoss, Gemini’s president and co-founder, said, “Securing the MPI licence from MAS validates our commitment and investment into Singapore.” His brother, CEO Tyler Winklevoss, described Singapore as a strategic centre for the company and said the licence leaves Gemini well placed to serve retail and institutional customers.
Gemini has served customers in Singapore for years and has continued expanding its services for cryptocurrency service providers as demand across Asia has increased. The MPI licence does not mean MAS guarantees Gemini’s products or protects customers against market losses, but it confirms the company has official permission to operate under Singapore’s regulatory framework.
The immediate impact is regulatory rather than product-bound, allowing Gemini to continue building its Singapore business with the approval in place.
