Gemini obtains Singapore Major Payment Institution license for crypto services
Gemini secures Singapore payment license
Gemini’s Singapore subsidiary, Gemini Digital Payments Singapore, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). The license allows the company to offer digital payment token services and cross‑border money transfers without the transaction‑volume limits that apply to standard payment institutions.
Key details
- License type: Major Payment Institution (MPI) – permits regulated payment services without volume caps.
- Authorized services: digital payment token services and cross‑border money transfers.
- Effective date: announced on 9 September 2026.
- Gemini has served Singapore customers since 2020 and offers spot crypto trading, digital asset custody and OTC services.
- MAS previously gave in‑principle approval in October 2024; Gemini moved customers to the local entity in April 2025.
Regulatory background
The MAS Financial Institutions Directory lists Gemini Digital Payments Singapore as an authorized MPI holder. While MPI holders avoid the transaction‑volume limits of regular payment institutions, they face more comprehensive regulation because of the larger scale of their operations.
What is confirmed
- Gemini received the MPI license from MAS on 9 September 2026.
- The license covers digital payment token services and cross‑border transfers.
- Gemini’s Singapore operations have been active since 2020.
- The transition from the previous exemption (Gemini Trust Company) to the locally incorporated entity was completed in April 2025.
Why it matters
The license enables Gemini to expand its regulated payment services in Singapore without the caps that limit smaller providers. This strengthens its position as a crypto exchange and custodian for both retail and institutional clients in a key Asian market.
