Gemini Secures Preliminary MPI License in Singapore, Driving Expansion Across Asia

In-Principle License Approval for Singapore Expansion

Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, has achieved a significant milestone in its expansion strategy, securing preliminary approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This MPI license, a critical regulatory approval, positions Gemini to provide cross-border money transfer and cryptocurrency payment services within Singapore and potentially beyond.

Focus on APAC's Growth Potential

In a statement released Tuesday, Gemini emphasized the importance of Singapore as a core hub for its operations across the Asia-Pacific (APAC) region. Highlighting the company's longstanding commitment, Gemini described Singapore as the “heart of our operations in APAC.” Since establishing its regional headquarters there, Gemini has aimed to build a secure and localized trading environment tailored to the regulatory and market demands of the region.

Strategic Leadership and Team Growth

This licensing update follows Gemini’s appointment of Saad Ahmed as its head of APAC in January. Ahmed, who previously held key roles at Uber and Grab, brings extensive regional expertise that is crucial for executing Gemini's vision in Asia. Further strengthening its team, Gemini plans to continue hiring in Singapore, prioritizing talent in growth support and compliance to meet both local and global standards.

A Broader Vision Beyond the U.S.

Gemini’s Singapore expansion is part of its larger objective to explore and establish footholds outside of the United States. Since June of last year, the company has focused on growing its presence in the Asian market, recognizing the immense opportunities within this fast-evolving cryptocurrency and fintech landscape.

Conclusion

The preliminary MPI license represents a promising advancement for Gemini, aligning with its commitment to bring secure and compliant cryptocurrency solutions to Asia. As the company strengthens its foothold in Singapore and expands its team, Gemini appears well-positioned to become a key player in APAC's crypto industry, meeting regional demand while adapting to regulatory frameworks essential for sustainable growth.