Gemini secures MAS Major Payment Institution license for token services
Business
Gemini just scored a Major Payment Institution license from the Monetary Authority of Singapore (MAS), wrapping up a two-year wait.
This means Gemini can now offer digital payment token services and handle cross-border payments in Singapore through its local arm.
Gemini faces AML and security rules
With this license, Gemini can process larger transactions than regular payment institutions, but they'll have to follow strict rules around anti-money laundering and tech security.
No new products announced yet, but CEO Tyler Winklevoss said Singapore is an important node for serving retail and institutional clients.