• Crypto & Funx
• 15 Feb, 2025

Gemini obtained in-principle approval from Singapore’s MAS to legally operate in the country.

Gemini’s Singapore move follows its exit from Canada due to regulatory friction, shifting focus to growth-friendly regions.

As part of its plans to broaden its presence in Singapore, Gemini is actively seeking talent across compliance, engineering, and finance roles.

ording to a published by The Straits Times on October 29, the company received In-Principle approval from the Monetary Authority of Singapore (MAS) to provide cross-border money transfer and digital payment token services in the country.

Gemini to Expand Singapore Office and Headcount

As a US-based company, Gemini has been gradually expanding its presence across the globe including the Asian Pacific Region (APAC). The company’s head of the region Saad Ahmed said the exchange considers Singapore as a very important market for its global expansion strategy.

“While the United States remains our largest market and global headquarters, Asia and Singapore in particular play a crucial role in our global strategy,” he said.

Gemini has encountered a series of legal challenges in the United States due to regulatory uncertainty in the market. Last year, the country’s Securities and Exchange Commission () sued the exchange for opera

d that Singapore currently ranks as the second largest market for the exchange after the US in terms of number of customers. He further disclosed that the company is planning to double its workforce and expand its office space. Currently, Gemini L boasts of over 40 teams across different segments.

“We are also in the middle of our move to a larger office space to accommodate Gemini’s growing local team, a testament to our long-term commitment to Singapore. We are looking for talent across a wide range of roles, including compliance, engineering, product and finance,” he said.

Not the First

Meanwhile, Gemini is not the first crypto company exploring the Singapore market. Last month, EDXM Global, a digital asset trading platform based in New Jersey announced its plans to launch a dedicated perpetual futures venue in the country.

Through this platform, the compa