Gemini made some new announcements regarding its services on the 26th of September. According to them, they will be making an expansion to India to grow their crypto ecosystem around the world further.
Gemini Exchange India will be a crypto outlet that will drive the adoption of cryptocurrencies in the location. Furthermore, they will provide users with a platform to buy and sell cryptocurrencies. There are already plans to implement an INR 200 crore ($24 million) investment in its India-based development center. Pravjit Tiwana, Gemini’s CEO of Asia Pacific, announced this new development in a blog post.
"Today, we are delighted to build on that announcement and reveal that we have opened our office within the Cyber Hub at Campus Cyber Greens, a cutting-edge center for crypto and technology innovation. As of this month, there are 70+ world-class Gemini employees based in Gurgaon supporting all facets of our business.
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. Over the next two years, we plan to invest INR 200 crore ($24 million USD) to grow our development center in Gurgaon," Pravjit Tiwana said.
How Will This Happen?
Pravjit Tiwana, Gemini’s CEO of Asia Pacific, has already provided an overview of how things will work out with their new plan. Apparently, Gemini Gemini already has a supporting ecosystem that will support its expansion.
In May this year, they announced the launch of Gemini’s Gurgaon technology development center in India. So, this exchange will mainly rely on their Gurgaon technology development center in India to propagate their growth in the next few years. In this office, their employees will be responsible for developing a lot of solutions for the crypto industry.
"It will be home to professionals across our engineering, design, and operations teams that are responsible for developing products and services for customers around the world in 70+ countries," they added.
Accordingly, compliance, data pipelines, warehousing, security, and payments are the major aspects Gemini will build in its new location. Furthermore, it is very important to point out that Gemini is now actively in the labor market, looking for those to help them achieve their goals.
"We are actively hiring for a number of key roles in our Gurgaon office, including software engineers, technical product managers, people operations and talent acquisition, finance, support, and compliance," they added.
Why Gemini Chose India
One question that arises with this new development in India is why Gemini decided to locate there. However, Gemini claims to have a clear answer to this.
They state that the Indian government has created a favorable framework that supports the growth of crypto startups in the country. They also reference a significant event in 2016 when the Indian government launched Startup India to promote the expansion of technological and financial startups within the country.
India isn't the only Asian or Middle Eastern country where Gemini is marching toward. They have recently sought validation in the UAE and have begun massive expansion plans in the region.
"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 added.