Gemini Obtains Singapore Major Payment Institution License

Gemini Digital Payments Singapore, the local unit of crypto exchange Gemini, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). The license permits the firm to provide regulated digital payment token services and cross-border money transfers in Singapore.

The MAS Financial Institutions Directory lists Gemini Digital Payments Singapore as authorised to offer regulated digital payment token services and cross-border remittance. An MPI licence lets a firm provide regulated payment services without the transaction-volume caps that apply to standard payment institutions. MAS notes MPI holders are subject to broader supervision and rules because larger operations present greater risks.

MAS issued in-principle approval for Gemini’s application in October 2024. In April 2025, Gemini moved its Singapore customers from Gemini Trust Company, which had been operating under an exemption, into the locally incorporated entity while it pursued final authorisation. Gemini announced on Wednesday that the MPI licence has now been awarded to the local entity, completing the regulatory transition.

In Singapore, Gemini offers spot cryptocurrency trading, digital asset custody and over-the-counter trading services. The MPI authorisation will allow the company to continue those regulated services for local customers and to support cross-border transfers under MAS oversight.

Cameron Winklevoss, Gemini president and co-founder, noted the exchange has served customers in Singapore since 2020. CEO Tyler Winklevoss described Singapore as “a strategic hub for serving retail and institutional clients.”