Gemini Brings Direct XRP Ledger Transfers To Singapore

Gemini has switched on direct XRP deposits and withdrawals over the XRP Ledger for its users in Singapore. Gemini co-founder and CEO Tyler Winklevoss announced the rollout in an X post.

What the Update Means for Singapore Users

Eligible users can now transfer $XRP between Gemini accounts and external XRPL addresses, instead of relying only on transactions within the exchange. The new functionality allows users to deposit XRP from self-custody wallets or other supported platforms, and withdraw tokens from Gemini directly to compatible addresses on the XRP Ledger.

The rollout adds blockchain transfers beyond the trading and custody access already offered to Singapore customers. The exchange already allows Singapore customers to fund accounts in Singapore dollars and access more than 70 cryptocurrencies. Gemini did not announce new XRP trading pairs, fee changes or minimum transfer amounts alongside the rollout.

Singapore-based users should also note that local regulatory requirements apply. Singapore customers can withdraw crypto only to exchanges where Gemini can securely share transfer-related information, or to self-hosted wallets that they own and control.

Gemini's Broader XRP Push

The Singapore update fits into a wider pattern of Gemini deepening its $XRP integration. XRP joined Gemini's derivatives cross-collateral pool alongside Bitcoin, Ether, Tether and Gemini Dollar during July. Gemini previously enabled RLUSD deposits and withdrawals over XRPL, expanding its Ripple-related product support further. Gemini and Ripple also offer an XRP edition of the Gemini Credit Card, paying up to 4% back in XRP on select purchases.

On the regulatory side, Gemini holds in-principle regulatory approval for a Major Payment Institution license application in Singapore.

Users are reminded to exercise care when initiating transfers. Customers should verify the destination network, address and any required destination tag before submitting transfers, as sending XRP through an unsupported network could result in lost funds.

Sources:
Gemini enables XRP transfers via XRPL in Singapore - Crypto.news
How do I transfer XRP via the XRP Ledger Network? - Gemini Support