Saad, you are leading Gemini in Asia-Pacific—what is your message for the coming year, 2026?

Gemini is an exchange, and our objective is very clear—we want to drive adoption. We want people to come and trade on our platform also in the coming year. 

Why should users choose Gemini over other exchanges? What is your USP?

Historically, Gemini has been known as a trusted, battle-tested platform. We’ve been around for a long time and have lived through many market cycles. Our ethos has always been to be compliant—to ask for permission, not forgiveness.

In the U.S. we have differentiated products like our Gemini credit card, which is a unique value proposition. Our intention is to bring products like this to other markets over time. That combination of trust, compliance, and product innovation really defines Gemini.

You lead the APAC region. What distinguishes APAC traders from those in other regions?

It’s actually difficult to define a single «APAC trader», because the region is incredibly diverse. In the U.S. or Europe, you generally deal with one overarching regulatory framework. APAC is very different—every country has its own regulations, local exchanges, and dominant use cases.

In some markets, gaming is the primary Web3 entry point. In others, it’s DeFi or payments. The region isn’t a monolith. In fact, nearly every crypto subculture is represented somewhere in APAC.

That’s why Gemini’s strategy here is to build highly localised experiences in every market we enter. Localisation is not optional—it’s essential.

That level of fragmentation—does it represent more of a challenge or an opportunity?

Honestly, it’s both. It is challenging because you need to build different products and localise deeply for each market. That takes time and resources.
But it’s also a huge opportunity. We’re a product-first, technology-led organisation. Fragmentation forces us to listen closely to what customers actually want and to build solutions that meet those needs. That’s where innovation happens.

Do you see any chance of greater regulatory unification across APAC?

That's a tough one. Regulatory cohesion would require many regulators with very different objectives to align on a single framework. That’s not impossible, but it’s difficult.

«Dubai is a fascinating case study.»

That said, if it does happen, it would significantly accelerate the growth of the Web3 industry. It would also make it easier for companies like Gemini to operate, because we wouldn’t have to optimise for ten different regulatory regimes at once.

There’s often talk about rivalry between Hong Kong and Singapore as crypto hubs. What’s your take?

We’re based in Singapore, so I’ll admit some bias. But more broadly, it’s positive to see multiple hubs emerge.
What matters is the concentration of talent and builders. Builders create use cases, use cases attract users, users drive monetization, and monetisation attracts more builders. That positive feedback loop is what builds ecosystems.

Both Singapore and Hong Kong have done a good job of fostering that environment, and we’re seeing similar momentum across Asia more broadly.

What can APAC learn from the Middle East—and vice versa?

Dubai is a fascinating case study. The city has been very proactive in attracting digital asset companies and making the regulatory pathway clearer. Having a dedicated digital assets regulator like VARA is quite unique.

There’s something to be said for not applying a purely traditional finance lens to an entirely new industry. That model could be instructive for other markets.

«The future of finance is heading toward a world where many services live in a single app.»

Conversely, Asia—particularly places like Singapore and Hong Kong—has shown a willingness to experiment and adapt regulation over time. That openness to iteration is something other regions can learn from as well.

One final question. There’s renewed talk about a «super app» for finance and crypto. Is that realistic?

The idea of a super app indeed isn’t new. In my previous role at Grab, I worked on building one. There’s real value in offering multiple services within a single ecosystem—once you bring a customer in through one use case, you can cross-sell many others.

Whether crypto becomes part of a true super app remains to be seen, but we’re already moving in that direction. At Gemini in the U.S., for example, users can stake assets, earn crypto rewards through a credit card, and trade—all within one ecosystem.

I think the future of finance is heading toward a world where many services live in a single app.

Gemini is a US-based cryptocurrency exchange founded in 2014 by Cameron and Tyler Winklevoss. Headquartered in New York, the platform allows individuals and institutions to buy, sell, trade, and store digital assets such as Bitcoin, Ripple, and Ethereum. 

This interview was produced at Token 2049 in Singapore, October 7-8, 2025.