cryptocurrency exchange gemini has received In-Principle Approval (IPA) for its Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS).
This approval will enable Gemini to offer cross-border remittance and digital payment token services in Singapore.
Gemini said in a statement:
“Singapore has long been at the heart of our Asia Pacific operations.
Since establishing our regional headquarters in Singapore, we have focused on expanding our footprint to ensure we offer a localized, secure and compliant trading experience to our users across the region. ”
Gemini recently made a strategic leadership hire in Singapore. Saad Ahmed Earlier this year, he became head of APAC, driving regional strategy and regulatory compliance.
The company is expanding its team in Singapore to support growth and ensure compliance with local regulations.
Gemini aims to continue its cooperation with MAS to obtain a full MPI license.
