Coinspeaker
1 hour ago
Bullish

Gemini enables XRP Ledger deposits and withdrawals for Singapore users

3 min

Gemini enabled XRP deposits and withdrawals over the XRP Ledger for customers in Singapore on Aug. 25, extending local support beyond buying, selling, and custody. Users can now move XRP between Gemini and external XRPL addresses.

XRP Ledger Transfers: What Changed in Singapore

Singapore-based users can deposit XRP from self-custody wallets or supported platforms and withdraw directly to XRPL-compatible addresses. Gemini did not announce new trading pairs, fee updates, or minimum transfer amounts. The change centers on on-chain settlement and wallet connectivity.

Gemini’s guidance: deposits require both the displayed X-Address and XRP destination tag due to a shared address structure. Withdrawals to custodial wallets generally require a destination tag. Transfers to non-custodial XRPL wallets make the tag optional. Users must confirm the correct network and any required tag to avoid loss of funds.

Regulatory Context: Singapore’s Role

Gemini Digital Payments Singapore received in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution license in October 2024 and is progressing toward final approval. Gemini re-centered international operations around the U.S. and Singapore in 2026, withdrew from the U.K., EU, and Australia, and planned up to 200 job cuts.

Low angle shot of the Monetary Authority of Singapore building entrance with the MAS logo
The exterior entrance of the Monetary Authority of Singapore (MAS) building.

MAS separately allowed Ripple to expand regulated payment activities under its license. Gemini’s XRPL transfer support aligns with Ripple’s institutional presence in Singapore.

Positioning Among Gemini’s XRP Products

The rollout follows Gemini adding XRP to its derivatives cross-collateral pool in July alongside BTC, ETH, USDT, and GUSD, and earlier enabling RLUSD stablecoin deposits and withdrawals over XRPL in December 2025. Gemini also offers an XRP-denominated credit card in the U.S. with Ripple. The Aug. 25 update concerns transfer access only. Gemini did not provide adoption targets or timelines for other Asian markets. A measurable indicator will be changes in XRP deposit, withdrawal, or trading volumes from Singapore after integration, which Gemini has not disclosed.