According to TechFlow, on October 29, Cointelegraph reported that the cryptocurrency exchange Gemini has obtained in-principle approval from the Central Bank of Singapore to provide some services in the country, allowing the organization to provide digital payment tokens and cross-border remittance services.

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