Gemini Secures Singapore Major Payment Institution License
The US crypto exchange won a Major Payment Institution license from Singapore's central bank, letting its local unit offer digital payment token and cross-border transfer services.
AfroEuropa Newsroom
AfroEuropa desk
US-based crypto exchange Gemini has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), the country's central bank. The license was issued to the exchange's local unit, Gemini Digital Payments Singapore, and authorizes it to offer digital payment token services and cross-border money transfers.
The approval completes a regulatory process that started with in-principle approval in October 2024. According to BitKE and Cointelegraph, the MPI license lets Gemini operate without the transaction-volume caps that apply to standard payment institutions, though larger operators are subject to additional regulatory requirements tied to the risks of their scale.
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