Gemini Secures MPI License from MAS, Expanding Crypto Services in Singapore
Crypto exchange Gemini has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), allowing it to provide regulated payment services in the country. The license was awarded to Gemini Digital Payments Singapore, its local entity, after nearly two years of preparation.
The MPI license enables Gemini to operate without transaction-volume limits imposed on standard payment institutions. However, MAS notes that major payment institutions face more comprehensive regulation due to the scale and risks associated with their operations.
Gemini President Cameron Winklevoss stated that the exchange has served customers in Singapore since 2020, while CEO Tyler Winklevoss described the country as a strategic hub for serving retail and institutional clients. Gemini offers spot crypto trading, digital asset custody, and over-the-counter services in Singapore.
The full license follows MAS' in-principle approval of Gemini's application in October 2024, with the company transitioning its Singapore customers from Gemini Trust Company to its locally incorporated entity in April 2025 while working toward final approval.