Gemini's new office in Gurgaon, India will be its second-largest engineering hub behind the one in the USA.
The US-based cryptocurrency exchange – Gemini – announced plans to establish a new engineering hub in Gurgaon, India. This will be the company’s second Asian location, as previously it opened an office in Singapore.
The expansion outside the US coincides with the regulatory uncertainty in the States. The CEO of Coinbase – Brian Armstrong – recently opined that many American crypto firms could relocate if the watchdogs continue their scrutiny over the industry.
Setting Eyes on Asia
He said the center in Gurgaon has already started looking for software engineers and technical product managers that could lead Gemini’s efforts on Asian soil. Tiwana added that the office will be the second-largest company hub behind the one in the United States. The exchange has also set foot in Singapore, the United Kingdom, and Ireland over the past few years.
The CEO outlined that the products and features built in the new location could be used by institutional and retail clients in more than 70 nations. The newly-formed team will aim to develop next-generation Web and mobile user experience and introduce feature sets for NFT and crypto marketplaces.
“Although past experience in Web3 and crypto technologies is not a prerequisite, we are seeking builders who are inspired to learn quickly and work on cutting-edge technologies like DeFi, NFTs, DAOs, and Web3,” Tiwana added.
US Crypto Exodus on its Way?
The lack of a comprehensive regulatory framework on digital asset operations in the States could be one reason why some American firms have started strengthening their global presence.
Coinbase’s CEO Brian Armstrong recently urged the domestic authorities to apply pertinent rules on the space to prevent the outflow of companies and talent:
“This is the reason why we need clarity about legislation and regulation onshore because if the UK doesn’t have this, if the US doesn’t have this, these firms are going to be built in offshore havens.”