Gemini crypto exchange's Singapore-based APAC head exits during expansion: source

[SINGAPORE] Gemini Trust's head of the Asia-Pacific region Jeremy Ng has left the firm after less than 2 years, according to a person with knowledge of the matter.

Ng, a managing director, joined the US cryptocurrency exchange in June 2020, according to his LinkedIn profile. Ng declined to comment, and a Gemini spokesperson said they couldn't comment on personnel.

The company, founded by Tyler and Cameron Winklevoss and recently valued at US$7.1 billion during a round of fund raising, has been expanding in Singapore. It counts the city-state as its Asia-Pacific hub and has more than 50 staff there, according to the spokesperson.

Gemini's application for a local licence is still pending with the Monetary Authority of Singapore, the spokesperson said. The Major Payment Institution licence would allow Gemini to provide payment services including money transfers and those related to cryptocurrencies.

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