Gemini’s Ambitious Expansion Sets Sights on Asia’s Crypto Market

Key Points:

• Gemini names new CEO for Asia-Pacific and plans to open first office in India.
• Pravjit Tiwana, Gemini’s global CTO, takes additional responsibility as APAC CEO.
• “Gemini has big plans for international growth this year in APAC”, building product and engineering teams in India, expanding business teams in both India and Singapore.

Gemini, the U.S.-based cryptocurrency exchange founded by twins Cameron and Tyler Winklevoss, has announced its plans for international growth in the Asia-Pacific (APAC) region.

To start, Gemini has named Pravjit Tiwana, its global chief technology officer, as APAC’s new chief executive officer. With Tiwana’s leadership, Gemini will launch new products from the region and ensure financial stability.

As part of its plans, Gemini will also open its first office in India to build out product and engineering teams. This expansion will also include growing its business teams in both India and Singapore to execute go-to-market strategies focused on growing its individual and institutional customer base in the region.

This news comes as a number of U.S.-based cryptocurrency platforms, such as Coinbase, are looking to enter foreign markets due to increasing hostility from regulators in the United States. Gemini’s rival, Coinbase, recently received a license to operate in Bermuda and may launch a derivatives exchange in the British Overseas Territory as soon as next week.

GMN’s expansion into the APAC region will also involve launching a new derivatives platform to offer perpetual futures, with its launch set to take place from the region. The collapse of the FTX exchange in November has opened the door for more companies to expand their trading platforms. Deribit, a crypto derivatives exchange, is also set to launch its spot trading platform next week.

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