Gemini Wins Full Singapore Payment License After 23-Month Restructuring

What happened

Gemini received a full Major Payment Institution license in Singapore after a 23-month restructuring process. This license allows Gemini to offer spot trading, custody, and over-the-counter services in Singapore, following the April 2025 transfer of its Singapore customers to a newly incorporated local entity.

Confirmed

Global impact / market context

This license lets Gemini legally serve Singapore customers directly, expanding its reach in a major crypto market. It may boost Gemini's revenue from trading fees and custody services, strengthening its competitive position against other crypto exchanges in Asia.

Analyst inference

Singapore is a sought-after crypto hub, so this license signals regulatory approval for Gemini's operations there. Other crypto firms may see this as a positive sign for navigating Singapore's rules, potentially increasing competition and investor interest in the region's digital asset market.

Analyst inference

What to watch

1. Gemini will now offer spot trading, custody, and over-the-counter services in Singapore under its new Major Payment Institution license, expanding its service lineup for local customers. Confirmed
2. Investors should watch whether Gemini's Singapore expansion leads to increased trading volumes or new partnerships, which could signal stronger adoption of its services in the region. Proposed
3. Competing crypto exchanges may seek similar licenses in Singapore, potentially intensifying competition and affecting market share among digital asset platforms in Asia. Analyst inference

Affected assets

• OTC — OTC

Evidence

• blockhead.co