Gemini Receives Major Payment Institution License From Singapore
by Maisie Morrison · BlockonomiTLDR
Table of Contents
- Gemini received a Major Payment Institution license from the Monetary Authority of Singapore
- The license lets Gemini’s local entity offer digital payment token and cross-border money transfer services
- MPI holders face no standard transaction-volume limits, unlike smaller payment institutions
- The approval follows an in-principle nod from MAS granted in October 2024
- Gemini moved its Singapore customers to a locally incorporated entity in April 2025
Gemini has received a Major Payment Institution license from the Monetary Authority of Singapore. The approval completes a process that started with in-principle approval nearly two years ago.
The exchange announced the news on Wednesday. Gemini said MAS awarded the license to Gemini Digital Payments Singapore, its local entity.
What The License Covers
The MAS Financial Institutions Directory lists the company as authorized to provide digital payment token services. It also allows cross-border money transfers.
Major Payment Institution license holders can offer regulated payment services without the transaction-volume limits placed on standard payment institutions. This gives Gemini more room to scale its operations in the country.
MAS said companies with this license face closer regulation than smaller firms. The agency pointed to the larger scale of their operations as the reason for the added oversight.
Standard payment institutions in Singapore operate under caps on how much money they can process. Major Payment Institutions do not face those same limits, which is a key difference for firms handling higher volumes.
Gemini’s Presence In Singapore
Gemini co-founder and President Cameron Winklevoss said the exchange has served customers in Singapore since 2020. He framed the license as a continuation of that relationship.
CEO Tyler Winklevoss described Singapore as a strategic hub for the company. He said the location serves both retail and institutional clients.
Gemini currently offers spot crypto trading in Singapore. The exchange also provides digital asset custody and over-the-counter trading services there.
The full license follows MAS granting in-principle approval to Gemini’s application in October 2024. That earlier step allowed Gemini to keep operating while it worked toward full authorization.
In April 2025, Gemini moved its Singapore customers from Gemini Trust Company to its newly incorporated local entity. Gemini Trust Company had been operating under an exemption during that period.
The switch was part of Gemini’s effort to align its Singapore operations with MAS requirements. The company confirmed the move in a support article at the time.
With the new license now issued, Gemini Digital Payments Singapore can operate under full MAS authorization rather than a temporary exemption. This marks the final step in the licensing process that began in 2024.
The license places Gemini among a group of crypto firms that hold full Major Payment Institution status in Singapore. MAS reviews these applications closely before granting final approval.
Gemini has not announced any changes to its service offerings in Singapore following the license approval. The company’s current lineup of trading, custody, and OTC services remains in place.