Gemini receives Singapore payment license for crypto services

The Monetary Authority of Singapore has granted Gemini Digital Payments Singapore a Major Payment Institution license, clearing the way for the exchange's local arm to provide regulated digital payment token services and cross-border money transfers. Gemini announced the award on Wednesday, and the MAS Financial Institutions Directory now lists the company as authorized for those services. MPI status lifts the transaction-volume caps that apply to ordinary payment institutions, though MAS imposes more extensive regulation on major payment firms because of the greater scale and risks of their operations. For Gemini, the license formalizes its regulatory footing in Singapore after receiving in-principle approval in October 2024. Gemini has been serving customers in Singapore since 2020, the company said. In April 2025 it migrated Singapore customers from Gemini Trust Company — which had been operating under an exemption — to its locally incorporated entity while awaiting final regulatory clearance. The company offers spot crypto trading, digital asset custody and over-the-counter services in Singapore. Gemini’s co-founders have described the country as a strategic hub for reaching both retail and institutional clients, and the MPI license positions the local unit to expand regulated payment and cross-border crypto services under MAS oversight.