Gemini Obtains Full Crypto License in Singapore
MAS grants Major Payment Institution license for digital token and cross-border transfer services.
1Regulatory Milestone Achieved
Gemini Digital Payments Singapore has secured a Major Payment Institution (MPI) license from Singapore's Monetary Authority (MAS), transitioning from its October 2024 in-principle approval. The license authorizes digital payment token services and cross-border money transfers. This full approval follows 18 months of regulatory review and replaces Gemini's previous exemption status. The MPI framework subjects the exchange to enhanced oversight due to its larger operational scale.
2Operational Restructuring
In April 2025, Gemini transferred its Singapore customers from Gemini Trust Company to the locally incorporated Gemini Digital Payments Singapore entity. This structural change was a prerequisite for final licensing. The new locally-regulated framework replaces the previous exemption-based operations. MAS maintains stricter controls for MPIs compared to standard payment institutions due to their higher transaction volumes and systemic importance in Singapore's financial ecosystem.
3Market Expansion Strategy
Singapore represents a strategic hub for Gemini's Asia-Pacific operations since 2020. The license enables expanded services including spot trading, digital asset custody, and OTC trading under MAS supervision. Co-founder Cameron Winklevoss emphasizes Singapore's role in serving both retail and institutional clients. The approval coincides with Gemini's planned rollout of crypto prediction markets through Apex brokerages, signaling broader market ambitions.
4Regulatory Landscape
MAS's MPI framework imposes rigorous standards for anti-money laundering and consumer protection. Licensed entities must maintain minimum capital requirements and implement robust risk management systems. While providing operational legitimacy, the license subjects Gemini to ongoing compliance audits. This development follows Singapore's recent tightening of stablecoin regulations, reflecting MAS's balanced approach to fostering innovation while mitigating financial risks.
5Competitive Implications
The license positions Gemini alongside other regulated crypto players in Singapore's competitive digital payments sector. MAS has licensed only select global crypto firms, creating a high-barrier entry market. Gemini's approval may pressure competitors to accelerate their own licensing processes. The move also strengthens Singapore's reputation as a regulated crypto hub, contrasting with more restrictive regional markets.
6Customer Impact
Retail and institutional clients gain enhanced legal protections under the new regulated framework. Users benefit from MAS-mandated safeguards against fraud and operational failures. The license enables Gemini to offer Singapore-dollar denominated services with local banking integration. However, customers may face stricter identity verification requirements as part of enhanced compliance measures.
7Global Compliance Trend
Gemini's Singapore approval reflects the growing global trend of crypto exchanges seeking regulated status. Other jurisdictions like the EU and UAE have implemented similar licensing regimes. This contrasts with the U.S. where regulatory uncertainty persists. The successful licensing may serve as a model for Gemini's expansion in other Asia-Pacific markets pursuing clear crypto regulations.
8Industry Significance
The license represents a validation of Gemini's compliance capabilities after high-profile industry failures. It demonstrates MAS's confidence in Gemini's operational and financial safeguards. For Singapore's fintech ecosystem, this reinforces the city-state's position as a preferred base for responsible crypto innovation. The approval sets a precedent for how major crypto platforms can operate within traditional financial oversight frameworks.
Original article: CryptoNinjas — Gemini Obtains Full Crypto License in Singapore