Gemini activates native XRP Ledger transfers for Singapore users

Gemini just flipped the switch on native XRP Ledger deposits and withdrawals for its Singapore user base, turning a platform that previously only let customers buy, sell, and hold XRP into one that actually lets them move it. The update, effective August 25, means Singapore-based users can now send and receive XRP directly to and from external XRPL-compatible wallets.

CEO Tyler Winklevoss announced the change, calling it “big news for the Ripple Army in Asia.” It’s a notable step for an exchange that has been methodically building out its blockchain integrations since first adding XRPL as its 13th supported chain back in August 2023.

What changed and why it matters

Before this update, Gemini’s Singapore customers could trade XRP on the platform, but the tokens were effectively trapped inside the exchange’s walled garden. Buying and selling, sure. Withdrawing to your own wallet or sending to another exchange? Not an option.

Now, with native XRPL transfers enabled, users can move their XRP to self-custody wallets or other XRPL-compatible platforms.

There’s a compliance catch, though. Singapore’s Travel Rule requirements mean that withdrawals are restricted to verified exchanges or self-custody wallets. Every outbound transaction needs to be trackable, which fits neatly into Singapore’s broader regulatory philosophy of encouraging crypto adoption while keeping a clear paper trail.

Singapore’s role as a crypto proving ground

Under Travel Rule requirements, virtual asset service providers must share identifying information about the sender and recipient of crypto transactions above certain thresholds. It’s essentially the same anti-money laundering logic that banks have followed for decades, now applied to digital assets. For users, this means slightly more friction on withdrawals. For regulators, it means visibility into where funds are going.

Competitive and market implications

XRP’s price showed immediate positive movement following the announcement. More access points generally mean more potential buyers, which means more demand pressure.

The three-year gap between Gemini first adding XRPL as a supported blockchain in August 2023 and now enabling full transfer functionality in Singapore illustrates how slowly exchange infrastructure sometimes moves.