In an advanced report, crypto exchange Gemini revealed plans to expand to India. The Gemini report indicated that the firm will invest approximately $24 million, equivalent to 2 billion rupees, in entering the vibrant Indian market. A review of Gemini’s expansion plan revealed that the crypto exchange would open an office in Gurgaon, a thriving city neighbouring New Delhi.
Gemini Expands to India
The Gurgaon office will house the Gemini core team, including engineers, designers and the operation team. The proposed office will focus on aligning Gemini’s core activities in compliance, security, payments, finance, warehousing and data pipelines in the direction that will attract success.
The office will support Gemini in running its daily activities and attaining its long-term objective. Also, the Gemini Gurgaon team will work closely with over 500 employees in other branches.
The announcement indicates that the Gurgaon office will create employment opportunities for Indians. According to the September 26 blog post, the crypto exchange revealed plans to recruit new talent to fill the vacant positions.
The Gemini report stated that the exchange has new openings in software engineering, operation, compliance, finance, product management and talent acquisition.
Gemini Opening Gurgaon Office
Earlier in May, the Gemini team unveiled plans to launch the Gurgaon technology centre. A statement issued by the Gemini chief technology officer Pravjit Tiwana confirmed the launching the Gurgaon office near Campus Cyber Greens.
The CTO stated that around 70 best-performing employees have been deployed in the new office to support the running of the business. Reflecting on the Indian job market, Tiwana admitted that the country has a rich pool of highly skilled workers with vast expertise in technology.
Tiwana stated that the suitability of the Indian market has inspired the Gemini team to broaden its investment and market presence. He envisages in 2025, Gemini will invest an additional $24 million to support the growth of the Gurgaon office.
Suitability of Indian Crypto Market
Additionally, Tiwana recognized efforts made by the Indian legislators to enhance the attractiveness of the crypto industry. He lauded the regulatory approach adopted in India to support the growth of startups at their early growth stage.
Seven years ago, the government launched Startup India program to create a suitable environment for thriving businesses. Remarkably, Startup India boosted the Indian economy to great heights, ranking third worldwide.
Since 2016, India has gained global recognition in entrepreneurship and technology sectors. Beyond this, the Indian government backs its sustainable development plans with a powerful slogan “robust support framework that allows startups to thrive.”
Based on the endless opportunities available in India, Gemini was pleased to establish a presence in the Asian country. The crypto exchange vowed to unlock new opportunities in the financial sector, including crypto and Web3 innovation in the region.
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