Gemini has announced that it has obtained approval from the Monetary Authority of Singapore (MAS) to offer cross-border money transfer and digital payment token services.
With this news, the exchange led by the Winklevoss twins stated that it aligns with its global strategy to expand its presence, particularly in the Asia-Pacific (APAC) market.
The exchange highlighted that this license demonstrates its dedication to the region and its commitment to maintaining high regulatory standards. It also shared its plans to continue working towards obtaining the full MPI license.
According to Gemini, Singapore has been a key location for its operations in APAC. Since establishing its regional headquarters in the country, the exchange has focused on growing its presence and providing a secure and compliant trading experience for users in the region.
Saad Ahmed, Head of Asia-Pacific at Gemini, emphasized that Singapore is the company’s largest customer base outside of the US, and securing regulatory approval will support the exchange’s growth in the country.
