Crypto Exchange Gemini Unveils $24 Million Investment Plan to Expand Presence in India
Crypto exchange Gemini has unveiled plans to significantly expand its presence in India by investing INR 200 crore (approximately $24 million USD) over the next two years.
The move comes as Gemini inaugurates its office within the Cyber Hub at Campus Cyber Greens in Gurgaon.
Gemini Targets India’s Engineering Hub for Crypto Innovation
Currently, Gemini boasts a workforce of over 70 professionals in Gurgaon, supporting various aspects of the business.
The Gurgaon office serves as a pivotal hub for the company’s global operations, contributing across engineering, design, and operational functions, playing a vital role in product and service development for customers across 70+ countries.
This expansion is seen as a complementary move to Gemini’s existing global workforce, which numbers over 500 employees.
To support their growing operations in India, Gemini is actively recruiting for a range of crucial roles in the Gurgaon office, encompassing software engineers, technical product managers, people operations and talent acquisition specialists, finance professionals, support staff, and compliance experts.
Gemini’s choice to expand in India is underpinned by the country’s robust support framework for startups.
Pravjit Tiwana, Global CTO, CEO, Gemini, Asia Pacific, stated that initiatives like “Startup India” has created an environment conducive to fostering startups, making India the third-largest startup ecosystem globally.
He added that India’s reputation as a prominent global hub for entrepreneurship and technological advancement aligns well with Gemini’s mission to usher in a new era of financial, creative, and personal freedom through crypto and Web3 innovation.
Crypto Firms Expect Clear Regulations in India
Gemini’s move to expand its presence in India comes at a time when there is positive momentum towards clear crypto regulations.
As reported earlier, India reached a consensus with other G20 nations on framing a global framework for crypto regulations.
However, there are no clear crypto regulations in India as of now. Since the G20 nations meet in India, there is a positive atmosphere in India regarding crypto regulations.
The central government of India, which once advocated for a complete blanket ban on India, is now working with other countries to create a global framework.