Singapore’s Regulator Grants Crypto Exchange Gemini a Provisional License

Gemini has reached a major milestone in expanding globally. The Monetary Authority of Singapore has granted the exchange In-Principle Approval (IPA) for a Major PaymentMPI) license, as announced in a blog post on Tuesday.

This IPA allows Gemini to offer a wide range of digital asset services to customers in Singapore, including cross-border money transfers and digital payment token services.

According to Gemini, this achievement signifies a significant advancement in their licensing process and emphasizes their commitment to operating within the highest regulatory standards.

They are also dedicated to serving the Singapore market and its surrounding APAC region. The decision to prioritize Singapore as a key market for Gemini was a strategic one, as the country has a favorable regulatory framework and holds a prominent position as a financial hub in Asia.

Earlier this year, Saad Ahmed was appointed as head of APAC, responsible for leading the company’s strategy and business development in the region.