Gemini has received in-principle approval for a Major Payment Institution license in Singapore.
Crypto exchange Gemini has received preliminary approval from Singapore’s central bank to offer some of its services in the country.
On Oct. 29, the Monetary Authority of Singapore (MAS) granted in-principle approval to Gemini for a Major Payment Institution (MPI) license, allowing the organization to provide digital payment tokens and cross-border money transfer services.
In an announcement, Gemini said that getting the in-principle approval is a milestone for the firm as Singapore has been “the heart” of its operations in the Asia Pacific region.
