{"id":140878,"date":"2024-10-29T21:30:13","date_gmt":"2024-10-29T19:30:13","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140878"},"modified":"2024-10-29T13:55:09","modified_gmt":"2024-10-29T11:55:09","slug":"gemini-secures-preliminary-approval-for-major-payment-institution-license-in-singapore","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/gemini-secures-preliminary-approval-for-major-payment-institution-license-in-singapore\/","title":{"rendered":"Gemini Secures Preliminary Approval for Major Payment Institution License in Singapore"},"content":{"rendered":"<p>On October 29, the Monetary Authority of Singapore (MAS) <strong><a href=\"https:\/\/www.gemini.com\/blog\/gemini-receives-in-principle-approval-from-mas-for-major-payment-institution\">granted<\/a> <\/strong>the exchange in-principle approval for a Major Payment Institution (MPI) license. This license will enable Gemini to offer digital payment tokens and facilitate cross-border money transfers.<\/p>\n<p>Gemini views this in-principle approval as a significant step, as Singapore is a central hub for its activities in the Asia-Pacific region. The company is now focused on obtaining final approval for the MPI license.<\/p>\n<p>According to Saad Ahmed, head of Gemini&#8217;s Asia-Pacific division, this move brings the exchange closer to providing tailored services for Singaporean users. He emphasized the importance of Singapore in Gemini&#8217;s global strategy, even as the U.S. remains its primary market. Ahmed also mentioned that Gemini is expanding its team in Singapore and relocating to a larger office to accommodate growth.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/coinbase-announces-nba-sponsorship-first-one-since-ftx-collapse\/\" title=\"Coinbase Announces NBA Sponsorship &#8211; First One Since FTX Collapse\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/na-coinbase-review-2021-1-1000x512-1-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Coinbase Announces NBA Sponsorship &#8211; First One Since FTX Collapse<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Should Gemini receive full MPI licensing, it will be able to exceed the $2.2 million volume cap for payment institutions and the $4.4 million monthly limit for multiple payment services. This approval would align Gemini with other U.S.-based companies like Coinbase and Ripple, which have already obtained full MPI licenses in Singapore. Coinbase received its license on October 2, 2023, while Ripple followed on October 4, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gemini has secured preliminary approval from Singapore&#8217;s central bank to expand its operations in the country.<\/p>\n","protected":false},"author":7,"featured_media":3092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-140878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gemini Secures Preliminary Approval for Major Payment Institution License in Singapore<\/title>\n<meta name=\"description\" content=\"Gemini has secured preliminary approval from 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