Gemini secured a Major Payment Institution license from Singapore's Monetary Authority on Wednesday, clearing a nearly two-year regulatory sprint that began with an in-principle approval in October 2024.
The license authorizes Gemini Digital Payments Singapore to offer digital payment token services and cross-border money transfers without the transaction-volume caps imposed on standard payment institutions. The MAS Financial Institutions Directory now lists the entity as fully authorized.
MAS classifies major payment institutions as high-risk due to their operational scale and mandates comprehensive oversight to ensure compliance and stability.
Gemini has operated in Singapore since 2020, serving retail and institutional clients through spot crypto trading, digital asset custody, and over-the-counter services. In April 2025, the exchange migrated Singapore customers from Gemini Trust Company—which operated under an exemption—to its locally incorporated entity.
Cameron Winklevoss, Gemini's president and co-founder, and CEO Tyler Winklevoss described Singapore as a strategic hub offering regulatory clarity and market sophistication that support the exchange's regional expansion.
