Gemini Crypto Exchange to Invest Up to Rs. 200 Crore in India

Gemini plans to inject its investment into India operations by 2025. US-based Gemini cryptocurrency exchange is pursuing global expansion. It entered the Indian market in May. Following a four-month evaluation, Gemini is expanding its presence in India. The exchange is investing $24 million in expanding its development center located in Gurugram, an essential part of India’s National Capital Region (NCR).

Gemini has already onboarded over 70 staff members in its Gurugram team. The company is 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 in its Gurugram facility.

India is recognized as a talent hub by leading tech companies worldwide. We’re excited to announce increased investment in India. We’re pleased to share that we’ve established an office at Campus Cyber Greens within the Cyber Hub. This statement is from the exchange’s official communication.

The exchange is looking to tap into India’s engineering talent to grow its ecosystem with fresh Web3 solutions that eventually add more layers of safety for its community members.

“Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce,” the company’s post added.

Reportedly, Gemini has appointed Pravjit Tiwana as the CEO for its Asia-Pacific (APAC) operations. He was previously global chief technology officer (CTO) at the crypto exchange.

Previously, other crypto platforms like Coinbase and Algorand have also shown interest in onboarding software talent from India onto their teams.

As India approaches the potential establishment of definitive cryptocurrency regulations around December this year, various other crypto firms have also entered the market.

In June, Gibraltar-based cryptocurrency bank Xapo announced its expansion to India. The OKX crypto exchange based in Seychelles is also scheduling a full-fledged expansion to India.

Gemini’s blog lauds India as a prominent global center for entrepreneurship and tech advancement. They express excitement about expanding their presence in India. Their mission is to catalyze financial, creative, and personal freedom through crypto and Web3 innovation. They commend the ‘Startup India’ initiative for its efforts.

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