TL;DR
- Gemini received the full MPI license from the Monetary Authority of Singapore, completing a process that began with in-principle approval in October 2024.
- The license enables Gemini Digital Payments Singapore to offer digital payment token services and international transfers without standard volume limits.
- Cameron Winklevoss highlighted the exchange’s presence in Singapore since 2020. Tyler Winklevoss described the country as a strategic hub for retail and institutional clients.
The cryptocurrency exchange Gemini received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), completing a transition that stretched over nearly two years. The local entity, Gemini Digital Payments Singapore Pte. Ltd. (GDPSPL), was authorized to operate digital payment token services and cross-border money transfer services, as confirmed by the exchange.
MAS’s financial institutions directory already lists GDPSPL as authorized for both service categories. The key difference from a standard payment institution license is that MPI holders can operate without the transaction volume limits that apply to smaller licenses, though MAS clarifies that this greater operational capacity entails more comprehensive regulation given the risk implied by its scale.
Gemini and Singapore: A Long-Term Strategic Bet
The path to obtaining the definitive license included several intermediate steps. MAS granted in-principle approval in October 2024, and in April 2025 the exchange transferred its clients in Singapore from Gemini Trust Company, which operated under a regulatory exemption, to the locally incorporated entity, while awaiting final approval.
Cameron Winklevoss, president and co-founder of the exchange, stated that the firm has been serving clients in Singapore since 2020 and emphasized that obtaining the MPI validates the company’s commitment and investment in the local market. For his part, Tyler Winklevoss, CEO and also co-founder, highlighted that Singapore’s regulatory framework and its position as a top-tier global financial center make the country a natural hub for the exchange’s operations.
Currently, GDPSPL offers spot trading of digital assets, custody services and over-the-counter operations for both retail and institutional clients in Singapore.
Several Asia-Pacific jurisdictions are transforming their regulatory frameworks for cryptocurrencies, and exchanges worldwide are accelerating their formal authorization processes to operate in markets with high institutional demand.
