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Citing strong growth opportunities in the APAC region along with Australia and Hong Kong, Gemini is pushing ahead to expand its crypto services in the region.
Gemini, the US-based cryptocurrency exchange, is all set to expand its footprint in Asia. Citing rising growth opportunities in South East Asia, Gemini will be setting up its operations to capitalize on the demand.
Gemini already has a presence in the region after it set up an office in Singapore last year. In its latest blog post on Wednesday, July 7, Jeremy Ng, Gemini’s managing director Asia Pacific also wrote that they will establish satellite offices across South East Asia. Besides, it also aims to expand its presence in other regions like Hong Kong and Australia. Speaking of this development, Jeremy wrote:
“One of the most exciting markets for crypto and financial innovation is the Asia Pacific region. We recently celebrated the first anniversary of Gemini’s presence in the region, and our Singapore-based operations have shown tremendous growth and potential thus far. Anchored by support for the Singapore dollar (SGD), we are thrilled to see the continued expansion of our regional headquarters as Gemini becomes a leader in the APAC crypto landscape”.
Gemini Tapping into Asia
There’s a promising demand from Asian investors to participate in the crypto space. This has probably attracted several market players to this region. Gemini realizes that Asia is rapidly emerging as the next big crypto hub and want to be at the forefront of this new unlocking opportunity.
Since establishing a base in Singapore last year, Gemini has hired more than 30 employees across various departments. Gemini also noted that its retail and institutional players across APAC will be able to trade 40 different cryptocurrencies. Gemini promises a top-of-the-line fund storage facility to its users. This includes insured hot wallets as well as proprietary cold storage systems.
Additionally, users in the APAC region will also get access to other ranges of Gemini products. For users can earn a 7.4% APR against their crypto holdings by leveraging Gemini Earn. “We will continue providing our APAC customers with new innovative crypto products throughout the year ahead to best serve their financial interests,” wrote Jeremy.
Additionally, Jeremy also touched down upon the recent regulatory action initiated on exchanges by global regulators. Crypto exchange giants like Binance have been failing severe regulatory heat over the last few weeks. Talking about it, Jeremy said:
“We’ve seen an increase in regulatory oversight from governments in the region and Gemini is moving to embrace this. I personally believe the increase in regulation is good, as it sets a framework to allow for better retail and institutional adoption in the long run.”
Other news from the crypto industry can be found here.