Ex-Grab executive, Saad Ahmed, joins crypto exchange Gemini as the head of Asia Pacific, according to a release dated Jan 25. Gemini is owned by the Winklevoss twins, Cameron and Tyler.
Saad Ahmed, head of APAC Gemini. Photo: Gemini
Ahmed will work to grow Gemini’s user base and introduce its products and services to institutions, while overseeing the region’s profitability and growth.
Last June, the crypto firm announced plans to expand to Asia Pacific, amid an increase in regulatory crackdowns in the US. In October, Gemini was sued by a New York attorney general for US$1.1 billion on the basis of fraud. Last week, it secured approval from French regulators to launch its services in France.
Gemini’s application for a local licence has been pending with the Monetary Authority of Singapore since 2021. But the firm announced last June that it will increase its headcount in Singapore, which it intends to serve as the hub for its APAC operations, to over 100 in the next 12 months, while also opening an engineering base in India.
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Ahmed was previously the regional head of commercial and managing director, merchants at Grab, where he was an employee for over five years. Prior to his role at Grab, he was one of the founding team members for Uber in India, and headed business development for the firm in Southeast Asia.
“Crypto is a global movement, and the east/west crypto flippening is upon us. As the crypto winter begins to thaw, we are excited for Gemini’s expansion in APAC following the launch of our crypto derivatives platform and the opening of our India office in 2023,” a report from Gemini says.
