Key takeaways:
- Gemini Exchange intends to expand in Asia-Pacific, using Singapore as its operational center.
- The headquarters of the Gemini Foundation will be in Singapore.
The establishment of an engineering base in India is part of Gemini Exchange’s recent announcement of its expansion strategy in the Asia-Pacific region, with Singapore serving as the operational center.
The company wants to hire more than 100 people in Singapore over the course of the next 12 months. The central hub for Gemini’s expanding APAC activities will be in Singapore.
In December 2020, Gemini introduced support for the Singapore dollar (SGD), giving citizens of Singapore easy access to cryptocurrencies. The Australian dollar (AUD) and the Hong Kong dollar (HKD) are also supported by them. Customers in APAC can buy, sell, and store a wide variety of cryptocurrencies while having their money protected by top-notch security and storage technologies.
The SEC has recently sued Coinbase and Binance for offering unregistered securities, and the expansion ambitions come as American authorities crack down on large crypto exchanges with American headquarters. Gemini’s efforts to grow internationally may be a wise strategy to evade regulatory scrutiny.
The headquarters of Gemini Foundation, a cryptocurrency derivatives exchange aimed at users outside of the United States, will be in Singapore. The APAC expansion of Gemini is a component of the company’s bigger plan to reach a non-American market and propel the next phase of growth for both cryptocurrency and Gemini. The business stated in a blog entry:
“Our Singapore office will serve as a hub for our larger APAC operations. We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini,”
Gemini’s plans for APAC development show how the area has the ability to propel the cryptocurrency market forward. Gemini Foundation is a non-US crypto derivatives platform that is not accessible to users in the US. It was unveiled by Gemini in April.
Gemini intends to expand its footprint in the region and give its consumers simple access to cryptocurrency with its ambitions for Singapore and India. Gemini is already moving towards creating an engineering center in Gurgaon, India, in addition to expanding its Singapore office.
Gemini announced its decision to grow in the UAE a few weeks ago, citing rising interest in cryptocurrency among UAE residents as well as constructive interactions with officials there.
