Gemini Secures Major Payment Institution License from Singapore
Gemini has secured a Major Payment Institution license from the Monetary Authority of Singapore (MAS), solidifying its presence in the country.
The license, which was granted after an in-principle approval in October 2024, allows Gemini Digital Payments Singapore to offer digital payment token services and cross-border money transfer services without standard transaction-volume limits.
Cameron Winklevoss, co-founder and President of Gemini, framed the license as a continuation of the exchange's relationship with Singapore customers, who have been served since 2020. Tyler Winklevoss, CEO, described Singapore as a strategic hub for the company, serving both retail and institutional clients.
Gemini currently offers spot crypto trading in Singapore, along with digital asset custody and over-the-counter trading services. The license approval marks the final step in the licensing process that began in 2024.