Gemini Digital Payments Singapore has received a Major Payment Institution licence from the Monetary Authority of Singapore, completing a regulatory process that began with in-principle approval in 2024. The licence strengthens Gemini’s ability to serve retail and institutional digital-asset customers through its locally regulated Singapore entity.
In its official September 8 announcement, Gemini said its Singapore business currently provides spot crypto trading, custody and over-the-counter services. MPI status allows payment institutions to operate above the transaction-volume limits applied to smaller licensed providers, while subjecting them to the more comprehensive regulatory requirements associated with larger-scale operations.
Gemini Completes Singapore Licensing Process
Gemini received in-principle approval from MAS in October 2024 for an MPI licence covering digital payment token and cross-border money transfer services under Singapore’s Payment Services Act. The full licence converts that preliminary regulatory milestone into formal authorization, reinforcing Singapore’s role as one of Gemini’s principal Asia-Pacific markets.
The company has served Singapore customers since 2020 and later shifted users toward Gemini Digital Payments Singapore as part of its localization strategy. The licensing process places those customer relationships within a Singapore-incorporated and MAS-regulated structure, rather than relying on an overseas operating entity.
MAS describes Major Payment Institutions as firms permitted to provide regulated payment services regardless of transaction volume or e-money held. In exchange for that flexibility, they face stronger safeguards because of the additional risks associated with operating at scale. The licence therefore expands operational capacity while also increasing obligations around customer protection, governance and regulatory oversight.
Compliance Remains Central to Expansion
For Gemini, obtaining full MPI status removes a significant regulatory hurdle in a market the company has identified as strategically important. The licence provides a clearer foundation for scaling regulated digital-asset services in Singapore, but it should not be interpreted as automatic approval for every crypto product Gemini offers elsewhere.
The company emphasized continued service to both retail and institutional customers but did not announce a new product launch alongside the licence. The immediate development is regulatory authorization rather than the introduction of a separate trading, custody or derivatives product.
Gemini will now operate under the ongoing requirements attached to Singapore’s payment-services framework, including the controls applicable to digital payment token providers. The longer-term significance of the licence will depend on how Gemini converts regulatory clearance into sustained customer and institutional activity while maintaining MAS compliance.
