Cryptocurrency exchange Gemini has allocated 2 billion rupees (around $24 million) to expand its operations in India.
Cryptocurrency Exchange Gemini Expands Its Operations In India
Cryptocurrency exchange Gemini has allocated 2 billion rupees (around $24 million) to expand its operations in India. The funds will grow Gemini's development center in Gurgaon, which currently employs over 70 staff in areas such as compliance, data, security and payments.
Gemini’s India office is expected to be their largest outside of the U.S., after the company announced major plans to grow their APAC presence. The exchange’s APAC CEO, Pravjit Tiwana, recognized India as a “global hub for entrepreneurship and technological development.”
According to a recent Chainalysis report, India was ranked second in the world based on crypto transaction volume. Despite a substantial crypto capital gains tax of 30%, peer-to-peer trading platforms, decentralized finance (DeFi) applications and acceptance of cryptocurrencies by merchants has grown significantly.
Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
