Gemini Gets MPI License in Singapore, Expands Crypto Services
Gemini Digital Payments Singapore has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone for the exchange's operations in the country.
The license, which was granted after almost two years of waiting, enables Gemini to offer digital payment token services and cross-border money transfer services. This is a major step forward for the exchange, allowing it to strengthen its presence in Singapore's crypto space.
Gemini has been operating in Singapore since 2020, with President and co-founder Cameron Winklevoss stating that the country is a strategic location for the exchange's retail and institutional customers. The new MPI license allows Gemini to provide locally regulated services, replacing its previous exemption model.