Founded by the billionaire twins Winklevoss Twins, the US-based cryptocurrency exchange and custodian Gemini is considering Asia expansion and has already appointed its new Managing Director for the Asia Pacific region.
Winklevoss Twins Gemini appoint the kingpin for Asian expansion
It has hired a new head of the region, Jeremy Ng, who is also a former Goldman Sachs executive with a rich experience of 20 years in Singapore and Hong Kong. Gemini President Cameron Winklevoss would be his direct line manager, under whom Ng would oversee the entire expansion process along with rapid hirings and business opportunities.
In an official statement, the Winklevoss Twins said that the decision to appoint a new managing director for this region is in line with our bigger plan to expand our presence in the Asia Pacific region. And Ng would play the lead role and be the face of this company in this extensive mission, said the tech gurus.
Singapore will be the gateway to Asia
Throwing more light on which Asian region the firm intends to place more emphasis on, the American entrepreneurs added that Singapore, with its reasonably flexible and pro-crypto regulations, is likely to play the lead role in the global crypto movement.
The firm plans to leverage this opportunity to make further inroads into the Asian market. If all goes according to the plan, Gemini will also seek a crypto business license from the region’s financial watchdog, Monetary Authority of Singapore.
Meanwhile, last month, Gemini grabbed the crypto news headlines to two significant developments. Firstly, it was one of the only two cryptocurrency exchanges to receive a crypto banking service from JPMorgan. Later, it announced its integration with Samsung Blockchain Wallet that enables users in the US and Canada to access the crypto trading services using Gemini mobile app.