Cryptocurrency exchange Gemini has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), successfully completing its transition from an in-principle approval granted nearly two years prior.
Gemini announced on Wednesday that the license was awarded to its local entity, Gemini Digital Payments Singapore. According to the MAS Financial Institutions Directory, the company is authorized to provide digital payment token services as well as cross-border money transfers.
Holders of the MPI license are permitted to offer regulated payment services without being bound by the transaction-volume limits placed on standard payment institutions. At the same time, the MAS notes that major payment institutions are subject to more comprehensive regulations due to the increased risks associated with the scale of their operations.
Cameron Winklevoss, Gemini President and co-founder, stated that the exchange has been serving customers in Singapore since 2020. Meanwhile, CEO Tyler Winklevoss referred to the country as a strategic hub for delivering services to both retail and institutional clients. In Singapore, Gemini provides spot cryptocurrency trading, digital asset custody, and over-the-counter services.
The acquisition of the full license follows the MAS granting in-principle approval for Gemini's application in October 2024. In April 2025, Gemini transitioned its Singapore customers from the Gemini Trust Company—which had been operating under an exemption—to its locally incorporated entity while pursuing final approval.
