Gemini Adds XRP Ledger Support for Deposits and Withdrawals in Singapore

The exchange now allows XRPL-based transfers for its Singapore customers, expanding regional access to the token.

Gemini has switched on support for XRP deposits and withdrawals using the XRP Ledger, or XRPL, for customers in Singapore. The update lets users in the city-state send and receive XRP directly on its native blockchain rather than relying solely on other transfer methods the exchange may have supported previously.

XRPL is the blockchain that underpins XRP, the token most closely associated with Ripple. It is designed for fast settlement and low transaction costs, features that have made it a common choice for cross-border payment applications. Enabling native XRPL transfers typically means quicker confirmation times and lower fees compared with routing assets through intermediary networks.

Gemini operates under regulatory frameworks in multiple jurisdictions, and Singapore is one of the markets where the exchange holds an active presence. The Monetary Authority of Singapore has built a licensing regime for digital payment token services, and platforms operating there must meet its compliance standards. Rolling out new network support in this market suggests Gemini is expanding functionality within an already-approved operating structure.

The addition of XRPL-based transfers follows a broader industry pattern of exchanges expanding the blockchain networks they support for individual assets. Many tokens can move across multiple networks through wrapped versions or bridges, but native-chain support is often viewed as more reliable and cost-effective for both retail and institutional users.

For Gemini’s Singapore user base, the change means more flexibility in how they manage XRP holdings. Users can now choose to deposit or withdraw XRP directly via XRPL, which may reduce reliance on third-party bridges or wrapped-token routes that can carry additional risk or cost.

Gemini has continued to add and adjust asset and network support across its regional platforms as it competes with other global exchanges for market share in Asia. Singapore has emerged as a significant hub for digital asset firms navigating clearer regulatory guidelines, making infrastructure updates in the market notable for the wider industry.

Market Impact

The change is primarily an operational update rather than a market-moving event on its own. Native XRPL support can improve transfer efficiency for XRP holders on Gemini in Singapore, potentially encouraging more on-platform activity involving the token in that market.

Broader market impact will likely be limited unless other exchanges or jurisdictions follow with similar announcements. The update does reinforce XRP’s continued integration into regulated exchange infrastructure in a region actively shaping its digital asset policy.

Gemini’s rollout of XRPL deposit and withdrawal support in Singapore reflects incremental infrastructure growth for XRP within regulated markets. It gives local users a more direct way to move the asset while highlighting Singapore’s ongoing role as a testing ground for exchange service expansion.

Frequently Asked Questions

What did Gemini change for XRP users in Singapore?

Gemini enabled deposits and withdrawals of XRP directly through the XRP Ledger, its native blockchain, for customers in Singapore.

Why does native XRPL support matter?

Transfers on XRP’s native network typically settle faster and cost less than routes involving wrapped tokens or third-party bridges.

Does this affect Gemini users outside Singapore?

The reported update applies specifically to Gemini’s Singapore operations, based on the available information.

Is this related to a change in XRP’s regulatory status?

No regulatory change was cited alongside this update. It appears to be an operational expansion of Gemini’s existing services in Singapore.

Original source: AltcoinGordon

Syndicated coverage. Originally reported by altcoingordon.com.