Cameron and Tyler Winklevoss’ cryptocurrency exchange Gemini has been granted a Major Payment Institution (MPI) license in Singapore. Gemini Electronic Payments The Monetary Authority of Singapore (MAS) has granted Singapore, Gemini’s domestic business, permission to provide regulated digital payment tokens and international money transfer services.
Gemini has been operating in the nation since 2020. It now provides spot cryptocurrency trading, custody and over-the-counter services. Thanks to the license, it has now a more official regulatory status.
MAS granted the license to Gemini Digital Payments Singapore Pte. Ltd. under Singapore’s Payment Services Act. Before this, the company operated under a temporary regulatory arrangement while it worked toward full approval.
🇸🇬 Big news: We’re pleased to announce that Gemini Digital Payments Singapore, Pte. Ltd. (GDPSPL) has received a Major Payment Institution licence from @MAS_sg, allowing us to provide Digital Payment Token and Cross-Border Money Transfer services.
Singapore continues to… pic.twitter.com/zUb9gnTJbF
— Gemini (@Gemini) September 9, 2026
Gemini got in-principle approval for an MPI license in October 2024, as long as it met the regulator’s final requirements. In April 2025, the exchange transferred its Singapore customers from Gemini Trust Company, its US-based branch, to Gemini Digital Payments Singapore as part of a local restructuring.
With this approval, Gemini’s Singapore business no longer needs to rely on the temporary arrangement it used during the licensing process. MAS’s Financial Institutions Directory now lists Gemini Digital Payments Singapore as an MPI authorized for digital payment token and cross-border money transfer services.
An MPI license lets a company offer regulated payment services without the transaction limits that apply to standard payment institutions. However, it also entails additional regulatory obligations, including regulatory reporting, technological risk management, anti-money laundering procedures, and consumer due diligence.
The approval only applies to Gemini’s Singapore-incorporated entity and the services MAS has authorized. It does not automatically include products or activities from other Gemini entities.
No significant new goods or services pertaining to the license have been announced by Gemini. Spot trading, custody, OTC services, and XRP transfers via the XRP Ledger are still provided via its Singapore office.
In addition to Coinbase, OKX Singapore, Bitstamp, and other significant digital asset businesses possessing payment licenses in Singapore, Gemini has also been granted an MPI license in concept.
For Gemini, this approval is an important step in making its Singapore subsidiary the regulated entity for its approved activities in the market. The company must now keep up the compliance and operational systems required by its MPI authorization.
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