Gemini has received in-principle approval from the Singapore central bank to offer certain services in the country

ChainCatcher news, cryptocurrency exchange platform Gemini has received in-principle approval from the central bank of Singapore to offer certain services in the country. On October 29, the Monetary Authority of Singapore (MAS) granted in-principle approval for Gemini to obtain a Major Payment Institution (MPI) license, allowing the organization to provide digital payment token and cross-border remittance services.

Gemini stated in an announcement that receiving in-principle approval is a milestone for the company, as Singapore has always been at the core of its operations in the Asia-Pacific region. The exchange platform indicated that it will continue to work towards obtaining the final approval for the MPI license.