Gemini’s Expansion Plans for Asia
United States-based cryptocurrency exchange Gemini announced the establishment of a new engineering hub in India with plans to tap into the country’s pool of top tech talent.
In an April 20 statement, Gemini’s Global CTO Pravjit Tiwana announced Gemini is “in the midst” of opening an engineering center in Gurgaon, India. It said it will be the exchange’s second-largest engineering hub trailing behind its hub in the U.S.
Heading up the operation will be Tiwana, who has been appointed as the CEO of Gemini Asia Pacific in addition to his role as global CTO.
Gemini’s Focus on India and the Asia Pacific Region
According to a separate statement made by Gemini’s founders Tyler and Cameron Winklevoss on the same day, the exchange “has big plans for international growth this year in APAC,” starting with its India hub. Gemini’s India arm will seemingly focus on a wide remit, with Gemini saying it will develop web and mobile user experiences, contribute to platform compliance, data pipelines, warehousing, security and payments.
The hub will also develop new feature sets for Gemini’s nonfungible token (NFT) and crypto asset marketplaces, it noted: “The products and features built in our India location will be used by our retail and institutional customers in 70+ countries.”
Hiring and Expansion in the Region
Gemini said it’s “actively hiring” talent in the country, its careers page lists 18 roles, 14 of those being engineering positions and one seeking a regional vice president.
Tiwana acknowledged the talent that India possesses saying it is “a hotbed for bar-raising technology talent.”
Additionally, the exchange reported it will expand its business teams in India and Singapore with a focus on growing Asia Pacific-based institutional and individual customers.
Regulatory Moves and Industry Trends
This development follows Gemini’s recent announcement on April 12 that it has filed a pre-registration undertaking with the Ontario Securities Commission, the regulator responsible for the capital markets in Canada’s most populous province.
The undertaking is a mandatory requirement for cryptocurrency exchanges seeking to conduct business in Canada and become a restricted dealer in the country.
Peer exchange Coinbase has also signaled interest in building more of its business outside of the U.S. and recently received a license to operate in Bermuda as many in the industry are unhappy with the regulatory treatment of crypto firms.
