American crypto exchange Gemini has deepened its establishment in the Asia-Pacific (APAC) by announcing its plan to commit $24 million to build an office in Gurgaon, India. According to Pravjit Tiwana, the CEO of Gemini APAC and Global CTO, the funds will be released over the coming two years.
Gemini Enters India
In April, Gemini revealed plans to establish an engineering office in Gurgaon, India. The market was intended to be second only to the crypto exchange’s U.S. office. In the latest announcement, Tiwana noted that an office has been set up “within the Cyber Hub at Campus Cyber Greens,” a place for crypto and tech innovation within Gurgaon.
The funds will be used to expand Gemini’s development centre within the country. Parts of the fund will also be used to increase the number of employees of the India-based office from its current 70+ head count. Among the workers needed are software engineers, technical product managers, people operations, and more.
The Gurgaon office will become home to Gemini’s engineering, design, and operations teams while offering service to multiple customers across the globe.
“Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce,” Tiwana added.
Gemini Expands Geographical Reach
Notably, this is not the first time that the crypto custodian will be expanding its tentacles into other countries aside from its headquarters in New York, U.S. In 2020, Gemini secured legal permission to establish an office in the United Kingdom.
Currently, the exchange boasts four office locations and a headquarters. The other two offices are based in Ireland and Singapore.
Meanwhile, Gemini’s latest expansion into new markets will help reduce dependency on its American office. Over the months, American regulators like the U.S. Securities and Exchange Commission (SEC) have shown hostility to crypto adoption in the country.
