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Gemini Appoints New Asia Pacific CEO and Expands Expansion in Singapore

June 12, 2020

Cryptocurrency exchange Gemini continues to expand in Asia;; Leonteq Asia’s former CEO, Jeremy Ng, has been appointed Managing Director for the Asia Pacific region.

The move provides for the Winklevoss twin exchange to apply for a license under the Singapore Payment Services Act of 2019This requires that at least one director is a Singapore citizen or permanent resident.

Ng will oversee the overall strategy and form a team in the region that reports directly to Gemini President Cameron Winklevoss.. With over 20 years of financial services experience, Ng has worked for the world’s leading banks, including Goldman Sachs, Deutsche Bank and Morgan Stanley.

Gemini Appoints New Asia Pacific CEO and Expands Expansion in SingaporeGemini Appoints New Asia Pacific CEO and Expands Expansion in Singapore

Winklevoss said that The focus on Southeast Asia went hand in hand with regulatory developments in Singapore::

“The Singapore Monetary Authority has developed careful regulation that paves the way for further acceptance and innovation. We hope to be present in this important fintech center and in the Asia Pacific region, with Jeremy taking the lead. “

It’s all part of the plan

A Gemini spokesman told Cointelegraph: Although the platform has been available to customers in Singapore since 2016, the step to develop a physical presence in the region was a natural one. after Julian Sawyer’s appointment as Director General of Europe Region in December 2019:

“We have long planned to expand at APAC, and it is the latest in a series of movements that have expanded our international presence over the past year.”

The spokesman confirmed this The company intends to apply for a license under the Payment Services Act with the Monetary Authority of Singapore (MORE):

“We look forward to further expanding our presence in the APAC region and are committed to complying with all regulations and our FCA application in the UK.”

A challenging step

The spokesman said that every region in which Gemini is expanding has new financial challenges and regulations One of the reasons why Ng was hired was his extensive experience in local financial markets..