American crypto exchange Gemini has received a Major Payment Institution (MPI) license from Singapore’s central bank, allowing its local entity to provide digital payment token and cross-border money transfer services.

The Monetary Authority of Singapore (MAS) granted the license to Gemini Digital Payments Singapore, completing a regulatory process that began with in-principle approval in October 2024. Gemini outlined the approval in an official announcement.

The MPI license allows Gemini to provide regulated payment services without the transaction-volume limits that apply to standard payment institutions. However, larger operators face additional regulatory requirements because of the risks associated with their scale. The authorization applies to the services covered by the license and places Gemini’s Singapore entity within MAS’s ongoing regulatory framework.

Gemini said it has served customers in Singapore since 2020 and considers the city-state a strategic hub for its retail and institutional business. The exchange currently offers spot crypto trading, digital-asset custody and over-the-counter services in Singapore.

In April 2025, Gemini moved its Singapore customers to its locally incorporated entity while it worked toward securing the full license. The approval formalizes that entity’s status as the regulated provider for the licensed services.

The approval comes as Singapore continues to position itself as a regulated hub for digital-asset businesses. MAS requires crypto firms to meet licensing and compliance standards before providing regulated services, so Gemini’s continued operations will remain subject to those requirements.