“I want to help build Web3 and the decentralized Metaverse. The promise is as big as the Internet itself and Gemini is well-positioned to help build and catalyze that future.”
Gemini has appointed Pravjit Tiwana as its new Chief Technology Officer, who will lead the crypto exchange operator’s engineering and product teams and draw upon his experience building world-class engineering cultures with a bias for action.
“He will help us scale and deliver value to our customers with speed and reliability — so that we can continue to unlock the next era of financial, creative, and personal freedom with our simple, reliable, and secure products and services”, said the firm led by the Winklevoss twins.
The new CTO joins Gemini from Amazon Web Services (AWS), where he was the General Manager of Edge Services, which includes Amazon CloudFront, AWS Edge Computing, and AWS Data Transfer Operations. Prior to that, he held product and engineering leadership roles at Microsoft and Disney.
Pravjit Tiwana, Chief Technology Officer (CTO) at Gemini, commented: “I want to help build Web3 and the decentralized Metaverse. The promise is as big as the Internet itself and Gemini is well-positioned to help build and catalyze that future.”
While Gemini eyes Web3 and the Metaverse, the company continues to expand its liquidity network for institutional participants, having recently partnered with Omniex.
Earlier this month, Omniex cross-connected with Gemini in Equinix’s low-latency NY5 data center that caters to large financial institutions and electronic trading ecosystems.
Omniex boasts an execution management system (EMS) deployed in Equinix’s NY5 data center, alongside a full featured portfolio and order management system (POMS) in the cloud.
Connected to many of the largest crypto liquidity venues, including leading exchanges and OTC market makers, the Omniex platform is deeply rooted in institutional trading infrastructure and execution optimization in order to cater to institutional investors.
Founded in 2017, Omniex provides portfolio and risk management, trade execution, investment operations and compliance solutions to buy-side, market-making and broker-dealer institutions.
Gemini has also recently acquired BITRIA to enrich Gemini’s custody and exchange capabilities with access to the entire crypto ecosystem and the ability to manage their clients’ portfolios from one interface.
BITRIA is a portfolio management platform for wealth and asset managers dedicated to digital assets and comprises of two solutions: Digital Asset Separately Managed Account (SMA) and Digital Turnkey Asset Management Platform (DTAMP).
According to a Financial Planning Association and Journal of Financial Planning survey published in June 2021, 49% of advisors said clients have asked about cryptocurrencies in the past six months, up from 17% in 2020.
Rising demand for digital assets represents a potential transfer of billions in wealth in the coming years as AUM within advised accounts in the United States total $20 trillion.
