According to BlockBeats news, on October 29, the cryptocurrency trading platform Gemini has received preliminary approval from the Central Bank of Singapore to provide some services in the country. On October 29, the Monetary Authority of Singapore (MAS) approved in principle Gemini to obtain a major payments institution (MPI) license, allowing the organization to provide digital payment tokens and cross-border remittance services.
Gemini said in an announcement that receiving the in-principle approval was a milestone for the company as Singapore has been “core” to its operations in the Asia-Pacific region. The trading platform said it will continue its efforts to obtain final approval for the MPI license.
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