Gemini intends to increase its presence throughout Asia-Pacific (APAC) With the hiring of Pravijt Tiwana as the region’s CEO and the establishment of an engineering facility in Gurgaon, India.
According to a blog post by the company, the action is a part of the New York-based exchange’s aim to expand its international operations and take advantage of the rising demand for cryptocurrencies and Web3 products.
In his capacity as CEO of Gemini APAC, Tiwana will lead the go-to-market strategy, oversee profit and loss management, and launch and expand region-specific goods and services. According to the post, he will keep his position as the exchange’s worldwide technology chief.Tiwana previously held product and technical leadership roles at both Microsoft and Disney before joining Gemini more than a year ago from Amazon Web Services.
Gemini plans for international expansion
Gemini, the U.S.-based crypto exchange founded by twins Cameron and Tyler Winklevoss plans include building out product and engineering teams in India and expanding its business in the country, alongside Singapore, where it will focus on growing its customer base, according to a separate post on Thursday.
According to Tyler Winklevoss,
“Gemini has big plans for international growth this year in APAC. This initially involves building out product and engineering teams in India. We will also be expanding our business teams in both India and Singapore to execute GTM [go-to-market] strategies focused on growing our individual and institutional customer base in this region.”
The announcement coincides with large US crypto companies starting to resent heightened regulatory scrutiny from US officials. In advance of the debut of futures trading, Coinbase only this week declared its own offshore plans for expansion to Bermuda and Abu Dhabi.
At the start of the year, financial services company Genesis and Gemini, controlled by early bitcoin billionaires Cameron and Tyler Winklevoss, were accused of breaking securities laws through their Lend program. The SEC asserts that the crimes included cryptocurrency worth billions of dollars, “primarily from US retail investors.”
Gemini is opening an office in Gurgaon, a city near New Delhi, as part of its aspirations for APAC expansion. The location will be Gemini’s second-largest engineering hub after its locations in the US, the United Kingdom, Ireland, and Singapore, the company said.
Since imposing significant taxes on cryptocurrency last year, India has taken a firm stance. However, the nation hasn’t ruled that cryptocurrency is legal, therefore there is still ambiguity. India stated earlier this year that it is collaborating with the IMF on a report that would examine “aspects of the monetary policy and the policy approach to crypto assets.”
