Gemini receives Singapore payment license for crypto services
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Crypto exchange Gemini has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), finalizing its transition from the in-principle approval given nearly two years ago. The MAS awarded the license to Gemini Digital Payments Singapore, authorizing it to provide digital payment token services and cross-border money transfers. Gemini's local entity will now operate under this full regulatory approval.
Why it matters
According to the source, obtaining the MPI license allows Gemini to provide regulated payment services without transaction-volume limits that apply to standard payment institutions. The MAS imposes stricter regulations on MPI holders due to the larger scale and risks of their operations. The source does not explicitly state further market or industry impacts.
Key context
Gemini has served customers in Singapore since 2020 and considers the country a strategic hub for retail and institutional clients. The company moved Singapore customers to its local entity in April 2025 while awaiting full approval. The MPI license follows MAS’s in-principle approval in October 2024 and replaces the previous exemption status under which Gemini Trust Company operated.
Key numbers and entities
The entities involved include Gemini, Gemini Digital Payments Singapore (Gemini’s local entity), and the Monetary Authority of Singapore (MAS). Key figures mentioned are Gemini’s co-founder and President Cameron Winklevoss and CEO Tyler Winklevoss. Specific license dates are October 2024 for in-principle approval and the full license granted as of May 2026.
What remains unclear
The source does not provide details on how the MPI license will change Gemini’s business operations in Singapore or its impact on customers. It also does not specify the exact regulatory requirements or compliance measures Gemini must meet under the MPI license.