Gemini’s platform has obtained a Major Payment Institution license from the Monetary Authority in Singapore, completing its transition from the in-principle approval it received about two years ago to a full license through its local entity, Gemini Digital Payments Singapore.
On Wednesday, Gemini announced that the regulator granted the license to the local entity, while a list of financial institutions at the Monetary Authority in Singapore shows that the company is authorized to provide digital token payment services and cross-border financial transfers.
The MPI license grants companies the ability to provide regulated payment services without the usual restrictions on transaction volumes imposed on standard payment institutions. In return, the central bank stated that major payment institutions are subject to more comprehensive oversight due to the breadth of their operations and the higher risks associated with them.
Gemini said its presence in Singapore dates back to 2020, while the co-CEO Cameron Winklevoss described the country as a strategic hub for serving individual and institutional clients. The platform in Singapore offers spot trading services for cryptocurrencies, digital asset custody, and over-the-counter trading services.
This full license comes after the preliminary approval Gemini received for its application in October 2024. In April 2025, the company moved its Singapore clients from Gemini Trust Company—which operated under an exemption—to its own registered local entity, as part of completing the requirements for final approval.
Gemini also plans to distribute its crypto prediction markets through Apex intermediaries.
What does the new license mean?
• Expanding the range of services permitted under Singapore’s regulatory framework.
• Removing standard transaction-volume limits for ordinary payment institutions.
• Strengthening Gemini’s ability to serve individual and institutional clients from its base in Singapore.