Gemini Unlocks XRP Rails in Singapore After Global Retreat

Gemini co-founder Tyler Winklevoss opened native XRP Ledger deposits and withdrawals for the exchange’s Singapore customers on August 25, 2026. The update lets verified users move XRP straight between Gemini accounts and external XRPL addresses instead of keeping the token locked inside the platform.

Winklevoss framed it as big news for the Ripple Army in Asia. The feature arrives after Gemini shrank its global footprint to the United States and Singapore, while its full Major Payment Institution license from the Monetary Authority of Singapore remains at the in-principle stage.

Tyler Flips the Switch for Singapore Users

Before the change, Singapore customers could buy, sell and hold XRP on Gemini. They could not send it out to a personal wallet or another exchange on the native ledger. That restriction is gone for eligible users.

Deposits now arrive from self-custody wallets or other XRPL platforms. Withdrawals leave Gemini directly to compatible addresses. No new trading pairs, fee schedules or minimum transfer sizes were announced with the rollout.

Customers still need to confirm the destination network, address and any destination tag. Sending on the wrong network risks permanent loss of funds. The company’s status page showed an earlier XRPL interruption had already been cleared; no fresh outage hit the Singapore launch.

• XRP trading and custody already available in Singapore
• Native XRPL deposits and withdrawals added August 25
• Singapore dollar account funding already live
• More than 70 cryptocurrencies supported for local customers

The move sits inside a longer Gemini XRP product run rather than standing alone.

Gemini’s Singapore Bet After the Global Cuts

Earlier in 2026 Gemini consolidated international operations around the U.S. and Singapore. It exited the United Kingdom, the European Union and Australia. The restructuring included plans to cut as many as 200 jobs worldwide.

That choice turns every Singapore product expansion into a core-market decision. Gemini Digital Payments Singapore received in-principle approval for a Major Payment Institution license from MAS in October 2024. In-principle approval is not final approval. The exchange continues working with the regulator; no final date has been set.

Singapore already lets customers fund accounts in local currency. Adding full on-chain XRP movement strengthens the one Asian market Gemini kept after the cuts. The same city-state hosts Ripple’s expanded payment activities under its own MAS license.

Observers on X noted that the jurisdictions which write self-custody rails into regulation are becoming a practical scoreboard for exchanges. Gemini is placing its remaining chips where the rules are clearest and the financial infrastructure already exists.

How Native XRPL Transfers Work

Native support means transfers settle on the XRP Ledger itself. Settlement times run in the low seconds range with low fees compared with many other networks. Users no longer need wrapped versions or third-party bridges for these flows.

Deposits into Gemini’s shared accounts require both an X-Address and the assigned destination tag. Documentation stresses that unsupported networks leave funds unrecoverable by support. Outbound withdrawals face Singapore’s Travel Rule: transfers go only to verified exchanges or self-custody wallets so identifying information can travel with the payment above set thresholds.

The three-year gap between Gemini first listing XRPL as a supported chain in August 2023 and full Singapore transfer functionality shows how slowly exchange infrastructure can move even after a chain is added.

The Incomplete License Still Hanging Over the Hub

Gemini’s Singapore entity holds only in-principle MPI approval. Final licensing would lift remaining volume and activity limits that still apply under the provisional status. Until then every new feature, including XRP rails, operates inside that unfinished regulatory frame.

MAS has already expanded Ripple Markets APAC’s MPI scope so the firm can run fuller digital payment token services, including end-to-end flows. Ripple also joined the MAS BLOOM initiative to test RLUSD in programmable cross-border trade settlements. The same regulator is watching both firms build payment infrastructure in the same city.

Gemini previously enabled RLUSD deposits and withdrawals on XRPL in December 2025. In July 2026 it added XRP to the derivatives cross-collateral pool beside Bitcoin, Ether, Tether and Gemini Dollar. An XRP-branded credit card rewards program for U.S. customers has also been live. The Singapore transfer switch continues that sequence inside the narrowed geographic footprint.

The exchange has also pursued other product lines, including a Gemini prediction markets partnership with Apex Fintech Solutions that targets regulated brokerage channels.

Ripple’s Parallel Path Under the Same Regulator

Ripple’s MAS approvals arrived earlier and have been expanded more fully. The company can now support institutional clients through broader token and payment activities under one license umbrella. JPMorgan, Ripple, Mastercard and Ondo Finance previously completed a cross-border tokenized treasury settlement that used the XRP Ledger, with USD landing in Ripple’s Singapore bank account.

Gemini’s XRP move does not create the same end-to-end payment license. It does give a regulated exchange’s Singapore users direct ledger access at the same moment institutions are testing XRPL and RLUSD under MAS oversight. The two tracks reinforce each other without merging.

XRPL itself continues upgrades aimed at institutional use, including the 3.3.0 release that added amendments for privacy and adoption. Tokenization experiments and tradfi collaboration keep growing around the ledger.

Big news for the Ripple Army in Asia. @Gemini users in Singapore can now deposit and withdraw XRP over the XRPL network.

Tyler Winklevoss, co-founder and CEO of Gemini, on X

XRP Price and ETF Flows Around the News

XRP traded near $1.45 to $1.52 in the days around the announcement, after a weekly rise of roughly 50 percent from levels near $1. The token had earlier touched a seven-month high near $1.65-$1.70 before pulling back.

U.S. spot XRP ETFs recorded about $39.78 million in net inflows for the week ended August 21, their strongest week since mid-May. Cumulative net inflows reached a record $1.55 billion. Bitwise led with roughly $542.7 million in cumulative inflows, followed by Canary Capital and Franklin Templeton each above $400 million.

Monday flows alone were reported around $13.8 million in some tallies, with trading volume near $97 million. Futures open interest climbed as well. The announcement itself produced no cleanly isolated price spike that reporters could separate from the broader ETF-driven rebound and wider crypto recovery.

• $1.55 billion cumulative spot XRP ETF net inflows
• $39.78 million best week since May
• Bitwise largest single fund at ~$543 million
• XRP roughly 50 percent higher on the week

Volume and open interest rose with the price move. The Singapore rails add another regulated on-ramp and off-ramp rather than a new demand source by themselves.

What Self-Custody Rails Change for Asia Liquidity

Trapped exchange balances limit how easily XRP can move into DeFi, other platforms or institutional settlement flows on XRPL. Native deposits and withdrawals reduce those frictions for Singapore users who already meet KYC and Travel Rule standards.

Faster finality and lower fees on XRPL become usable for customers who previously faced conversion steps or higher-cost routes. Liquidity that can leave an exchange can also return more easily, which matters for market makers and larger holders operating in a major Asian financial center.

Gemini has not published adoption targets or a timeline for other Asian markets. The feature stays Singapore-specific for now. Whether deposit and withdrawal volumes rise enough to show up in exchange metrics will be the next measurable test.

The hidden stakeholders remain Gemini’s management, which staked the firm’s remaining international presence on this one city, and MAS, which still holds the final license decision that will determine how far that presence can grow.

Frequently Asked Questions

What exactly did Tyler Winklevoss announce for Gemini and XRP?

On August 24, 2026 he stated that Gemini users in Singapore can now deposit and withdraw XRP over the XRPL network, expanding the offering beyond internal trading and custody to native ledger transfers for eligible customers.

What technical details do Singapore users need for XRP deposits on Gemini?

Deposits into shared accounts require both the correct X-Address and the assigned destination tag; transfers on unsupported networks cannot be recovered by customer support according to platform documentation.

When did Gemini first add support for the XRP Ledger?

Gemini first added XRPL as its 13th supported blockchain in August 2023; full native deposit and withdrawal functionality for Singapore customers arrived three years later in August 2026.

How does Singapore’s Travel Rule affect XRP withdrawals from Gemini?

Withdrawals are limited to verified exchanges or self-custody wallets so that identifying information about sender and recipient can be shared for transactions above regulatory thresholds, matching MAS anti-money-laundering standards.

What is the current status of Gemini’s Major Payment Institution license in Singapore?

Gemini Digital Payments Singapore holds in-principle approval granted by MAS in October 2024 and continues working toward final approval; no final license date has been announced as of late August 2026.

Disclaimer: This article is news reporting and analysis based on publicly available announcements and market data as of late August 2026. It is informational only and does not constitute investment, trading, financial or legal advice of any kind. Cryptocurrency markets are volatile and regulated status can change; readers should consult a qualified financial advisor or licensed professional familiar with digital assets and their local rules before making any decisions. Figures for price, ETF flows, license status and product availability reflect the cited sources at the time of writing and may already have moved.