Gemini receives Singapore payment license for crypto services

Gemini’s Singapore unit has been awarded a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS), completing a process that started with in-principle approval nearly two years earlier. The authorization covers regulated digital payment token services and cross-border money transfers.

MAS grants Major Payment Institution license

On Wednesday, Gemini said the MPI license was issued to Gemini Digital Payments Singapore, its local entity. MAS lists the company in its Financial Institutions Directory as authorized to provide digital payment token services and cross-border money transfers.

MPI status removes standard transaction-volume limits

MAS says MPI license holders can provide regulated payment services without the transaction-volume limits that apply to standard payment institutions. MAS also noted that major payment institutions face more comprehensive regulation due to the scale of their operations and related risks.

Singapore operations date back to 2020

Gemini President and co-founder Cameron Winklevoss said the exchange has served customers in Singapore since 2020. CEO Tyler Winklevoss described Singapore as a strategic hub for serving retail and institutional clients, where Gemini offers spot crypto trading, digital asset custody, and over-the-counter services.

License follows approvals and customer migration

MAS’ full license follows its in-principle approval of Gemini’s application in October 2024. In April 2025, Gemini moved its Singapore customers from Gemini Trust Company, which operated under an exemption, to Gemini Digital Payments Singapore while it completed the final approval process.

Why it matters

The MPI license gives Gemini a regulated payment framework in Singapore for digital payment token services and cross-border transfers, aligning its local operations with MAS requirements and removing transaction-volume limits tied to standard payment institutions.