Gemini has received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), granted on September 8 to Gemini Digital Payments Singapore. The licence allows the company to operate as an approved payment services provider in Singapore without transaction limits that smaller payment institutions face.
The MPI licence represents a significant regulatory milestone for the exchange in one of Asia's financial hubs. As part of the approval, Gemini must continue to meet Singapore's requirements across customer protection, financial crime, and operational controls.
Gemini currently provides spot crypto trading, custody, and over-the-counter services in Singapore. The company has maintained operations in the country for several years and has expanded its service offerings as demand for cryptocurrency services has grown across Asia.
Cameron Winklevoss, Gemini's president and co-founder, said the MPI licence validates the company's commitment and investment into Singapore. His brother Tyler Winklevoss, Gemini's CEO, described Singapore as a strategic centre for the company, noting that the licence positions Gemini well to serve both retail and institutional customers.
The MAS licence grants Gemini official permission to operate under Singapore's applicable regulatory scheme. The approval does not constitute a guarantee of the company's products or protection against market losses, but it does enable Gemini to continue building its Singapore business with regulatory authorization.
