Gemini Wins Singapore License, Expands Regulated Crypto Services
Gemini has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, expanding its regulated crypto services in Asia. The approval, finalized on September 9, applies to Gemini Digital Payments Singapore, the company's locally incorporated entity.
The MPI license allows Gemini to exceed transaction-volume thresholds and come under more comprehensive regulatory obligations, including ongoing compliance with anti-money laundering controls and customer due diligence requirements. This designation reflects the greater financial and operational risks associated with larger-scale operations.
Gemini has operated in Singapore since 2020 and previously transferred its Singapore customers from the U.S.-based Gemini Trust Company to Gemini Digital Payments Singapore in April 2025, while the license application remained under review. The final approval ends that exempt arrangement and places responsibility for regulated services directly with the local entity.
The MPI license positions Gemini alongside other digital asset firms holding similar licenses in Singapore, including Coinbase (COIN), Crypto.com, OKX, Bitstamp, and institutional liquidity provider Cumberland. MAS approved Cumberland's digital token and cross-border payment services in July, signaling the regulator's continued willingness to authorize firms that meet its standards.