Gemini secures regulatory approval in Singapore amid Asia expansion plans
Summary
Gemini received in-principle approval from the Monetary Authority of Singapore (MAS) to offer cross-border money transfer and digital payment token services. This license supports Gemini's strategy to expand in the Asia-Pacific market. Singapore is central to Gemini's operations in APAC, with the country being its largest customer base outside the US. The approval will facilitate growth, prompting plans to double its workforce in Singapore and expand office space. Singapore is recognized as a regulatory leader in the crypto industry, attracting numerous digital asset companies due to its clear regulations. Currently, there are 28 licensed crypto-related businesses in Singapore, one of the highest counts in Asia.
