Singapore Gives Gemini Major Crypto License for Trading Expansion
Singapore has granted Gemini a major crypto license for trading, enabling the exchange to continue providing regulated digital asset services in the country. The license allows Gemini to operate as a Major Payment Institution (MPI) and provide services without transaction-volume limits. This approval deepens Gemini's presence in Singapore, where it has been serving customers since 2020.
Gemini President and co-founder Cameron Winklevoss stated that securing the MPI license validates the company's commitment to the country. He expressed excitement for what's ahead, highlighting the importance of Singapore as a strategic hub for Gemini's regional strategy.
The approval arrives as regulators in Singapore refine protections across the digital asset market. The Monetary Authority of Singapore (MAS) has proposed legislative changes that would introduce stress tests and recovery plans for stablecoins, among other measures.