Expanding Singapore XRP Utility
Gemini Enables Direct XRP Ledger Transfers for Users in Singapore Market
Anonymous
Key Points
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Gemini Digital Payments Singapore earned in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution license in October 2024, as part of a broader 2026 international restructuring that centralizes operations around the U.S. and Singapore and contemplates reducing global headcount by up to 200 roles.
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Gemini’s XRPL transfer rollout was framed as a milestone for the XRP community in Asia, with co-founder Tyler Winklevoss calling it 'Big news for the Ripple Army in Asia' on X to announce the launch.
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XRP rewards programs have shown strong performance, including a 453% increase in XRP rewards for users who held their XRP rewards for at least a year.
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Gemini’s XRP edition Gemini Credit Card offers up to 4% back in XRP on eligible purchases (e.g., gas, EV charging, rideshare), highlighting the asset’s role in cashback-style rewards.
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Promotional commentary around XRP promotions includes a playful remark about a 'whale limit' on Ripple CEO Brad Garlinghouse for the XRP edition card, underscoring continued high-profile branding tied to XRP.
Gemini has enabled direct XRP deposits and withdrawals over the XRP Ledger in Singapore, expanding its local cryptocurrency offerings beyond basic trading and storage Crypto News. The move gives users a native way to transfer XRP between Gemini accounts and external XRPL addresses, as well as interact with XRP Ledger-based applications, marking what co-founder Tyler Winklevoss called "big news for the Ripple Army in Asia" U.Today.
The Singapore rollout comes as Gemini Digital Payments Singapore earned in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution license in October 2024 Crypto News. Gemini is restructuring globally in 2026 to centralize operations around the U.S. and Singapore, while potentially reducing headcount by up to 200 roles.
Why Singapore Matters for XRP Growth
Singapore is a major Asian crypto hub with strict regulations. Gemini's move to offer native XRPL transfers positions the city as a launchpad for broader XRP adoption across Asia Coinpaper. The exchange has already launched an XRP edition credit card offering up to 4% cashback on gas, EV charging, and rideshare purchases.
XRP rewards programs have shown strong performance, with some users seeing a 453% increase in rewards when holding XRP for at least one year 99bitcoins. This aggressive rewards strategy reflects Gemini's broader push to deepen XRP's role in its ecosystem.
What XRPL Transfers Actually Mean for Users
Previously, Gemini users in Singapore could buy and sell XRP, but couldn't move it directly onto the XRP Ledger without external workarounds Coinpaper. Now they can deposit XRP from external wallets into Gemini and withdraw it back to any XRPL address. This removes friction for users who want to trade on Gemini and then use XRP across other platforms.
Users must still meet Gemini's regulatory requirements, including Travel Rule obligations that track large cryptocurrency transfers Crypto News. Gemini frames this as a step toward strengthening XRP liquidity and accessibility in a major Asian market.
A Bigger Push for XRP Across Gemini
The XRPL transfer rollout is one piece of a larger strategy. Gemini has already launched an XRP credit card, made XRP usable as cross-collateral for derivatives trading, and promoted XRP-based rewards programs U.Today. These moves show the exchange is betting heavily on XRP adoption and on Ripple's ecosystem gaining traction globally.
The XRP price has remained pinned near $1.50 as the Singapore news broke, with little movement in the previous 48 hours 99bitcoins. Observers expect Gemini may roll out similar XRPL transfer offerings in other regulated markets as it navigates the global digital-asset landscape.
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