Gemini Secures MPI Licence for Cross-Border Crypto Services in Singapore
Crypto exchange Gemini has expanded its presence in Singapore after securing a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore.
The licence allows Gemini to provide cross-border money transfer and digital payment token services, building on its existing spot trading, digital asset custody, and over-the-counter services in the country.
Gemini President and Co-Founder Cameron Winklevoss said that securing the MPI licence 'validates our commitment and investment into Singapore'. He added that the company has been serving customers in Singapore since 2020 and is 'excited for what's ahead'.
Gemini CEO and Co-Founder Tyler Winklevoss noted that Singapore's regulatory framework makes it a 'natural strategic hub', and that the licence will enable the company to continue serving both retail and institutional customers in the country.