Gemini Dollar

<p>US-headquartered crypto exchange platform Gemini is exploring further operational expansion abroad, turning its attention specifically right now to India.</p><p>The company first forayed into the world’s most populous country back in April with the<a href="https://medium.com/&#64;coinness.gl/gemini-opening-engineering-center-in-india-54353519eee7" rel="noopener noreferrer nofollow"> announcement</a> of the imminent launch of an engineering center.</p><p>Having tested the waters in the South Asian country, the crypto exchange has decided to broaden its presence in the nation, according to a<a href="https://www.gemini.com/blog/gemini-to-deepen-india-investment-over-next-two-years-with-plans-to-invest" rel="noopener noreferrer nofollow"> blog post</a> published to the firm’s website on Tuesday. With a capital influx of Rs. 200 crore ($24 million), the exchange will be growing its development center in Gurgaon, a city that serves as an integral part of India’s National Capital Region (NCR).</p><h2 id="header-0">70-member Gurgaon team</h2><p>Gemini has already onboarded over 70 staff members to its Gurgaon team. The company is actively hiring for more roles to fill its internal verticals, including tech development, finance, and compliance. In the next two years, the exchange plans to invest up to Rs. 200 crore ($24 million) in its Gurgaon facility, demonstrating a significant commitment where the Indian market is concerned.</p><p>In an official statement, the company stated:</p><p>“India has long been regarded as a hub for bar-raising talent by the world’s top technology companies, and we are thrilled to share that we are deepening our investment in the country. We are delighted to build on that announcement and reveal that we have opened our office within the Cyber Hub at Campus Cyber Greens.”</p><p>The business is looking to tap into India’s rich pool of engineering talent to bolster its ecosystem with fresh Web3 solutions, inclusive of resource allocation towards optimized platform security.</p><h2 id="header-1">Singapore expansion</h2><p>Pravjit Tiwana had previously been welcomed on board as the CEO of Gemini’s Asia-Pacific (APAC) operations earlier this year. He was previously the global chief technology officer (CTO) at the crypto exchange. Alongside this expansion, the company’s previous<a href="https://medium.com/&#64;coinness.gl/gemini-announces-singapore-expansion-plans-6e0f95834b9b" rel="noopener noreferrer nofollow"> announcement</a> in June to expand operations in Singapore is a task that also falls within Tiwana’s remit. At the time, the firm expressed the view that the APAC market will be crucial in securing the next phase of growth for the enterprise.</p><p>Gemini<a href="https://medium.com/&#64;coinness.gl/gemini-targets-uae-crypto-license-70a2735ce57d" rel="noopener noreferrer nofollow"> signaled</a> back in June that it intended to expand its reach in the Middle East also by pursuing a trading license in the United Arab Emirates.</p><p>“India is undoubtedly a leading global hub for entrepreneurship and technological development. We are thrilled to build Gemini’s presence in India as we continue on our mission to unlock the next era of financial, creative, and personal freedom with crypto and Web3 innovation,” Gemini’s blog added, praising the ‘Startup India’ initiative.</p><h2 id="header-2">Growing interest in Indian market</h2><p>Previously, other crypto platforms like Coinbase and Algorand have also shown interest in onboarding software talent from India onto their teams. Amid the backdrop of India coming closer to possibly getting a concrete set of crypto rules around December this year, other crypto firms have also stepped into the market.</p><p>In June, Gibraltar-based crypto-friendly bank Xapo<a href="https://medium.com/&#64;coinness.gl/crypto-friendly-xapo-bank-enters-indian-market-c37806685b29" rel="noopener noreferrer nofollow"> announced</a> its entrance into the Indian market. The OKX crypto exchange based in Seychelles is also<a href="https://coinmarketcap.com/community/articles/64f28bcfc66b8c01d4719379/" rel="noopener noreferrer nofollow"> scheduling</a> a full-fledged expansion into the country.</p>

Gemini to Invest $24M as Part of India Expansion Plans

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