Gemini Secures MPI License from MAS, Expanding Payment Services in Singapore

Gemini has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), allowing it to provide regulated payment services without transaction-volume limits. The license was awarded to Gemini Digital Payments Singapore, its local entity, and is a result of a nearly two-year process that began with an in-principle approval granted by MAS in October 2024.

The company has served customers in Singapore since 2020 and sees 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 MPI license will enable the exchange to expand its offerings and better serve its customer base.

MAS noted that major payment institutions face more comprehensive regulation due to the scale of their operations posing greater risks. However, this license allows Gemini to provide a wider range of services while still being subject to strict regulations. Gemini's President and co-founder Cameron Winklevoss stated that the company has been serving customers in Singapore since 2020, with CEO Tyler Winklevoss describing the country as 'a strategic hub for serving retail and institutional clients.'