Gemini Expands Asian Reach With New MAS License in Singapore

Gemini, the crypto exchange founded by the Winklevoss twins, has achieved a major milestone in its Asian growth journey. The Monetary Authority of Singapore (MAS) recently granted Gemini an in-principle approval for a Major Payment Institution (MPI) license. 

This approval highlights Gemini’s commitment to delivering secure and compliant crypto services across the region. 

Singapore: The Heart of Gemini Asian Operations

Singapore is a key part of Gemini’s Asia-Pacific strategy. The city-state has become central to the company’s operations and highlights its role as a financial hub. 

Since setting up its regional headquarters there, Gemini has focused on developing a trading environment that meets local regulatory standards and offers a user-friendly experience. 

Securing the MPI license represents a crucial step in Gemini’s strategy to diversify beyond its home market in the U.S. As the exchange sets its sights on the vibrant Asian crypto landscape, it stands poised to capitalize on new opportunities. 

The exchange has expanded its crypto operations across different regions, including European countries. This reflects Gemini’s aim to broaden its global reach and build a strong presence in regions with supportive regulations.

In contrast to the regulatory soft landing Gemini received in Singapore, the exchange revealed plans to cease all operations in Canada earlier this month. The exchange allowed users to withdraw their funds until December 31, 2024. 

Gemini’s New Leadership Drives the Asia Push

Earlier this year, Gemini welcomed Saad Ahmed as the Head of APAC. This came after the exchange announced its intention to fill the position in 2021. Ahmed’s experience with companies like Uber and Grab equips him with valuable insights into the Asian market. 

Saad Ahmed’s appointment as Head of APAC marks a significant enhancement to Gemini’s leadership team and aligns with its efforts to establish a firmer foothold in the region.

Building a Stronger Team for Growth

Gemini is not just securing licenses but also expanding its workforce in Singapore. The trading platform is actively expanding its team in Singapore, focusing on attracting talent that will support growth and compliance efforts. 

This strategic recruitment aims to bolster the company’s ability to navigate the complex regulatory environment. While delivering secure and innovative crypto services to its users.