Gemini Secures Full Payment License From Singapore Regulator

Crypto exchange Gemini has obtained a Major Payment Institution license from Singapore’s central bank, marking the final step in a regulatory process that began with in-principle approval nearly two years ago. The license was granted to Gemini Digital Payments Singapore, the company’s locally incorporated entity, authorizing it to offer digital payment token services and cross-border money transfers.

No Standard Volume Restrictions Apply

Unlike standard payment institutions, holders of the Major Payment Institution license can operate without typical transaction-volume caps, though regulators subject them to more extensive oversight given the larger scale of their operations. Gemini’s co-founders said the company has served Singapore-based customers since 2020 and views the country as a key hub for both retail and institutional business.

Path to Full Licensing Took Nearly Two Years

The approval follows preliminary clearance granted by Singapore’s Monetary Authority in October 2024. Gemini transitioned its Singapore customer base to the newly incorporated local entity in April 2025 as it worked toward securing the complete license. The exchange currently offers spot trading, digital asset custody and over-the-counter trading services in the market.