In a bold move that highlights the promising potential of the Asia-Pacific region for crypto companies, Gemini, a leading cryptocurrency exchange, has announced its plans to expand its operations in Singapore. With the goal of establishing a strong foothold in the region, Gemini aims to increase its headcount in Singapore to over 100 employees within the next year.
Gemini firmly believes that the Asia-Pacific region will play a crucial role in driving the next wave of growth in the cryptocurrency industry. The company’s decision to bolster its presence in Singapore is a strategic move to tap into the thriving market and leverage the region’s growing interest in digital assets.
To spearhead its expansion efforts in Asia, Gemini appointed Pravijt Tiwana as its APAC CEO in April. Tiwana, who previously served as the company’s chief technology officer and had an illustrious background at Amazon Web Services (AWS), brings valuable expertise and insights to guide Gemini’s ventures in the region.
Gemini’s commitment to establishing a stronger presence in Asia goes beyond Singapore. The company recently inaugurated an engineering center in Gurgaon, India, underlining its dedication to expanding its international business and embracing the diverse opportunities in Asian markets.
Notably, Singapore’s crypto landscape has been witnessing significant developments recently. Ripple, a blockchain-based payment protocol, received provisional regulatory approval to offer crypto products and services in the city-state, signifying a growing acceptance of cryptocurrencies in the financial sector. On the other hand, Luno, a digital currency exchange owned by DCG, decided to conclude its services in Singapore in mid-April, reflecting the dynamic nature of the crypto industry.
In a separate development, Diego Oliva, a former executive from Meta (formerly known as Facebook), has been appointed as the Chief Executive Officer of the Starknet Foundation. Oliva’s primary responsibilities include fostering growth and overseeing the decentralization plans of Starknet, a permissionless validity layer-2 rollup network that utilizes STARK proofs to power its operations.
Gemini’s expansion plans, combined with the evolving crypto landscape in Singapore, exemplify the rising interest and opportunities in the Asia-Pacific region. As Gemini strengthens its presence and expertise in Singapore, it aims to capitalize on the region’s immense potential and contribute to the ongoing growth and maturation of the global cryptocurrency ecosystem.
