Crypto exchange Gemini has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), finalizing a regulatory process that began with in-principle approval nearly two years ago.
License Details and Regulatory Scope
The license was granted to Gemini Digital Payments Singapore, the exchange’s locally incorporated entity. According to the MAS Financial Institutions Directory, the company is now authorized to provide digital payment token services and cross-border money transfers.
Unlike standard payment institutions, MPI license holders can operate regulated payment services without transaction-volume caps. However, MAS subjects major payment institutions to more comprehensive regulatory requirements, reflecting the greater risks associated with the scale of their operations.
Executive Perspective on Singapore Strategy
Gemini President and co-founder Cameron Winklevoss said the exchange has served customers in Singapore since 2020, while CEO Tyler Winklevoss described the country as a strategic hub for serving retail and institutional clients. The exchange offers spot crypto trading, digital asset custody, and over-the-counter services in the market.
Regulatory Timeline
The full license follows MAS’ in-principle approval of Gemini’s application in October 2024. In April 2025, Gemini migrated its Singapore customers from Gemini Trust Company—which had operated under an exemption—to its locally incorporated entity while working toward final regulatory approval.
