Gemini Receives Major Payment Institution License in Singapore
9h ago · 1 source · Summarised by CryptoBipto — how we make this
Cryptocurrency exchange Gemini has been granted a Major Payment Institution (MPI) license by Singapore's Monetary Authority. The license allows Gemini to offer regulated digital payment token services in the city-state, marking an expansion of the exchange's presence in Asia.
WHY IT MATTERS
Think of a payment license like a business permit that a government issues to companies handling money. In Singapore, crypto companies need a special license called a Major Payment Institution license before they can legally offer services involving digital currencies. Without it, operating would be like running a restaurant without a health permit. For the broader crypto world, this is notable because Singapore is one of the more respected financial centers in Asia, and getting approved there suggests a company has passed significant regulatory checks. It also shows that some governments are building formal frameworks for crypto businesses rather than banning them outright.
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