 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Gemini, one of the top cryptocurrency exchanges in the U.S., has unveiled plans to establish a new engineering hub in India as a way to tap into the country’s massive pool of tech talent.
According to a statement released on Thursday by Pravjit Tiwana, Gemini’s CEO of the Asia Pacific region and global Chief Technology Officer, the company is currently in the process of opening a new engineering center in Gurgaon, and are actively hiring in the region.
“At Gemini, we are determined to unlock the next era of financial, creative, and personal freedom with crypto and Web3 innovation,” Tiwana wrote. “As a company, we have deep respect and admiration for India’s tradition of engineering excellence and view India as a hotbed for bar-raising technology talent… Our Gurgaon office will be the second largest Gemini engineering hub behind the United States and complements our existing offices in the United States, the United Kingdom, Ireland, and Singapore.”
The team in India will focus on contributing toward the development of the next-generation web and mobile user experiences for Gemini, data pipelines and warehousing, security and payments. They will also help build new feature sets for the exchange’s NFT and crypto asset marketplaces.
Gemini co-founders Tyler and Cameron Winklevoss released a separate statement announcing Tiwana as CEO of APAC and elaborating on the exchange’s future plans.
“As APAC CEO, he will be responsible for launching and expanding our products and services in the region, leading the go-to-market (GTM) organization (business development, marketing, and evangelism), and owning PnL for the region,” they wrote. “Gemini has big plans for international growth this year in APAC,” starting with its India hub.
Along with its expansion in India, Gemini will also be expanding its business teams in Singapore “to execute GTM strategies focused on growing our individual and institutional customer base in the region.”
“We believe that crypto and Web3 products will continue to have a strong growth trajectory in APAC,” the founders wrote. “Crypto knows no boundaries, and that is why Gemini is a global company.”
|
| Gemini prepares international crypto derivatives exchange to fill FTX void |
This development from Gemini comes amid an increasingly challenging regulatory environment in the U.S. that has seen numerous enforcement actions taken against crypto-related companies.
In January, the U.S. Securities and Exchange Commission charged Gemini with the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending platform.
And Gemini is not the only exchange to have experienced increased hostility from regulators in the U.S. as both Kraken and Coinbase have faced lawsuits and legal challenges that have limited their offerings to the public.
The issue has escalated to the point where Coinbase CEO Brian Armstrong has said that the top U.S. cryptocurrency exchange may consider relocating to more welcoming locales if the regulatory landscape doesn’t improve in the near future.
