Gemini is transitioning customers in Singapore to Gemini Digital Payments Singapore, Pte. Ltd., an entity that has received In-Principle Approval (IPA) for a Major Payment Institution license from the Monetary Authority of Singapore (MAS).
On 2nd April 2025, all Gemini Exchange (spot) accounts were transitioned from Gemini Trust Company, LLC to Gemini Digital Payments Singapore, Pte. Ltd. This change does not impact crypto holdings, fiat funds, or access to the Gemini platform.
For more details, please refer to the FAQs below.
1. Why is Gemini making this switch?
Gemini Trust Company presently operates in Singapore pursuant to an exemption under the Payment Services (Exemption for Specified Period) Regulations 2019 (Exemption Regulations). Gemini Digital Payments Singapore, Pte. Ltd. is a Gemini entity that has received In-Principle Approval (IPA) for a Major Payment Institution license under the Payment Services Act 2019 from the Monetary Authority of Singapore (MAS). As such, all Singapore customers will be migrated from Gemini Trust Company to Gemini Digital Payments Singapore, Pte. Ltd.
2. What does this mean for me as a customer?
With this transition, it simply means your account will now be managed by Gemini Digital Payments Singapore, Pte. Ltd., a Gemini entity that has received In-Principle Approval for the Major Payment Institution license from MAS.
3. What actions do I need to take?
No action is required from you for the transition to take place. However, after the transition has occurred, you will be required to review and accept the new terms and conditions.
4. When will the transition take place?
The transition will occur on 2nd April 2025. After this period, your account will be managed by Gemini Digital Payments Singapore, Pte. Ltd.
5. Will there be any interruptions or downtime?
No, there will be no downtime or interruptions to your Gemini trading experience during this transition.
6. Will I lose access to my account or need to re-register?
No, please rest assured that this transition will have no impact on your crypto holdings or fiat funds. While you will not need to re-register, you will have to review and accept the new terms and conditions.
7. What happens to my existing user agreement with Gemini Trust Company?
Once your account is transitioned to Gemini Digital Payments Singapore, Pte. Ltd., the relationship with Gemini Trust Company, LLC will be terminated, and the updated terms of the user agreement with Gemini Digital Payments Singapore, Pte. Ltd. will apply.
8. Where can I find the Gemini Digital Singapore, Pte. Ltd user agreement?
You can find the updated terms and conditions here:
9. Can I opt out of this transition?
While you are able to opt out of this transition, this would require the closure of your Gemini account. Under local regulatory requirements, all accounts for customers in Singapore must be managed by Gemini Digital Payments Singapore, Pte. Ltd. Rest assured that this transition is designed to provide a more secure, compliance, and localised experience for our Singapore users. If you wish to opt out of this transition and close your account, please contact our Customer Support team for assistance.
10. Will there be any change to the payment methods that I have verified?
Yes. As part of this migration, moving forward, we will only support SGD and USD for fiat deposits and withdrawals for Singapore users. As a result, we will be discontinuing support for all other fiat currencies, such as AUD, CAD, EUR, GBP, and HKD.
11. I’m logged into my account but did not get any prompt to accept the updated terms and conditions of the User Agreement.
You will see the prompt to accept the updated Terms and Conditions after 2nd April 2025. If you are using the mobile app, please ensure you have the latest version* installed to access the update.
*For iOS users: Sometimes, updates may not appear in the "Available Updates" section of the app store. To check manually, search for the Gemini app in the app store and tap on it—if an update is available, the "Open" button will change to "Update."