Gemini has received a Major Payment Institution licence from the Monetary Authority of Singapore. According to the announcement, the licence was given to Gemini Digital Payments Singapore, the company’s locally incorporated entity.
The MAS Financial Institutions Directory lists Gemini Digital Payments Singapore as authorised to provide digital payment token services and cross-border money transfer services. Holders of an MPI licence can offer these regulated payment services without the transaction-volume limits applied to standard payment institutions. MAS subjects major payment institutions to more comprehensive regulatory requirements, citing the greater risks associated with the scale of their operations.
Company presence and licensing timeline
Gemini has operated in Singapore since 2020, offering spot crypto trading, digital asset custody, and over-the-counter services to retail and institutional clients. Company representatives have described Singapore as a strategic hub for the exchange’s regional business.
MAS granted in-principle approval for Gemini’s application in October 2024, as previously reported. In April 2025, Gemini transitioned its Singapore customer base from Gemini Trust Company, which had operated under a regulatory exemption, to Gemini Digital Payments Singapore, the entity through which it continued working toward full authorisation.
Implications for the region’s digital asset sector
The MPI licence places Gemini among the digital asset firms that have secured this authorisation category in Singapore, a jurisdiction that has developed a structured regulatory framework for digital payment token services over recent years. Full MPI status allows Gemini to expand its regulated service offering in the country without the volume constraints attached to a standard payment institution licence, providing a basis for continued operations serving both retail and institutional clients in the region. The approval also reflects the multi-year timeline typically associated with moving from in-principle approval to full licensing under Singapore’s payment services regime.
