Gemini, a major cryptocurrency trading platform founded by Cameron and Tyler Winklevoss, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), enabling the firm to operate legally in the country’s digital assets and payments sector.
License Strengthens Gemini’s Position in Asia
With this MPI license, Gemini is authorized to offer regulated digital payment token services and cross-border money transfers within Singapore under its local entity, Gemini Digital Payments Singapore, Pte. Ltd. This development is expected to strengthen Gemini’s business operations in Asia, as it positions the company to better serve local clients and expand into new regional markets.
The MAS lists Gemini Digital Payments Singapore in its Financial Institutions Directory as a licensed provider of digital payment token services, clearly establishing its status under stringent national regulations. The company stated that this licensure allows it to continue developing and innovating its payment and asset services for Singaporean customers.
Singapore has established itself as a growing hub for digital assets, with MAS implementing a robust regulatory framework. For global firms like Gemini, operating with proper licensing demonstrates firm compliance and positions them for long-term growth in the region.
Regulatory Journey and Compliance
Gemini first received in-principle approval from MAS in October 2024. This preliminary nod permitted the company to move forward with registration and compliance processes necessary to operate in Singapore’s regulated environment. By April 2025, Gemini began transitioning its Singapore-based users from its US entity to Gemini Digital Payments Singapore, an essential step to align users and services with local regulations.
The MPI license allows Gemini to offer a range of regulated payment services, including crypto spot trading, digital asset custody, and over-the-counter (OTC) trading, without the stricter limitations imposed on smaller payment institutions. However, all MPI-licensed companies remain subject to MAS’s expanded oversight and compliance rules, designed to manage risks associated with larger volumes and cross-border activities.
Mini dictionary: MPI (Major Payment Institution) license — A regulatory approval granted by the Monetary Authority of Singapore (MAS) that lets firms provide varied payment services, including digital payment tokens and money transfers, without the lower transaction limits set on standard payment institutions.
| Service provider | License type | Permitted services |
|---|---|---|
| Gemini Digital Payments Singapore | Major Payment Institution | Digital payment tokens, cross-border transfers |
| Standard Payment Institution | Standard Payment Institution | Limited scope and smaller-scale payments |
For Gemini, the achievement ensures an established regulatory base for providing its payments and crypto offerings in Singapore. Gemini has served Singaporean clients since 2020, and the new license consolidates its ability to deliver a full spectrum of services under Singapore’s framework.
Comments from Gemini Leadership
Cameron Winklevoss, Gemini’s co-founder and President, highlighted the platform’s strong presence and commitment to Singapore. Referring to the country as a key strategic node, Tyler Winklevoss, Gemini’s CEO, emphasized its importance in serving both retail and institutional customers throughout the region.
Gemini is proud to deepen its roots in Singapore, a country recognized for its progressive approach to regulating digital assets, as the platform seeks to build trusted, secure, and compliant infrastructure for users in Asia.
The new regulatory approval arrives during a period of increased regulatory development in Singapore’s digital asset sector, providing further security and legitimacy for users engaging in crypto and payment activities through compliant platforms.
The completion of Gemini’s long licensing process reflects Singapore’s robust approach to digital asset sector oversight, while enabling the platform to support local growth and facilitate expansion throughout Asia and other markets.
