Gemini Invests $24 Million in Expanding its Presence in India’s Crypto Market

Gemini Invests $24 Million In India,Gemini Invests $24 Million In India

Leading cryptocurrency exchange Gemini has said that it will spend Rs 200 crore ($24 million) over the course of the next two years to increase its footprint in the booming Indian crypto sector. This calculated action follows Gemini’s declaration in May that it will be opening a technological development centre in Gurgaon, India, demonstrating its dedication to the Indian market. The country’s development centre will be expanded and strengthened mainly with the usage of the recently allotted funding.

Gemini Invests $24 Million In India
Source: blockworks

Gemini’s cutting-edge innovation centre for cryptocurrency and technology is situated at Campus Cyber Greens, Gurgaon’s Cyber Hub. Numerous essential platform operations, such as compliance, data pipelines, warehousing, security, and payments, are within the purview of this centre. The team in India is an invaluable asset to Gemini’s worldwide workforce, contributing significantly to the company’s technical advances and developments.

Gemini India

Gemini India has come a long way since its May inception, employing more than 70 Gurgaon-based workers thus far. These experts provide help for a number of the business’s functions. Software engineers, technical product managers, people operations and talent acquisition specialists, financial specialists, support personnel, and compliance specialists are just a few of the positions for which Gemini is now hiring. In the near future, the firm intends to increase the number of employees it already employs in India from 70 to 150.

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As Gemini Asia Pacific’s CEO, Pravijit Tiwana, put it, “Gemini is a startup at heart, and the Indian government has built a robust support framework that allows startups to thrive.” This is why the firm is interested in India. The Indian government initiated the Startup India programme in 2016, which set the groundwork for a flourishing startup ecosystem that currently holds the third position worldwide.” Tiwana underlined that Gemini is excited to be present in India more as part of its goal to use Web3 and cryptocurrency to promote financial, creative, and individual freedom.

About half of India’s municipal and state governments have used blockchain technology for uses including certifications and data management, demonstrating the country’s growing embracement of the technology. One noteworthy instance is the web3 regulatory sandbox that the Telangana government established in order to encourage the usage of cutting-edge blockchain-related technology in the state.

Being the 2023 G20 Presidency, India is taking a leading role in the global blockchain and cryptocurrency space. India is leading the charge in creating a comprehensive international framework for cryptocurrency regulation. The country was a key contributor to the IMF-FSB Synthesis Paper, which describes activities that other countries may take to guarantee safe cross-border cryptocurrency transactions and promote global economic expansion.

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While full crypto rules are still being created in India, industry players and enthusiasts are looking forward to good regulatory improvements that will foster a climate that is favourable for investors and crypto enterprises operating in the nation. Gemini’s investment demonstrates the company’s faith in India’s ability to become a major force in the global blockchain and cryptocurrency scene.

Gemini Invests $24 Million In India,Gemini Invests $24 Million In India

Gemini Invests $24 Million In India,Gemini Invests $24 Million In India

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