Gemini Expands With New Indian Office, Appoints APAC CEO

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The continuous effort of the cryptocurrency exchange Gemini to provide a clear operational framework for the crypto business can not be over-emphasized. Effectively, the exchange platform owned by the Winklevoss Twins has decided to expand its reach globally by creating a new office in India, specifically the Asia-Pacific (APAC) region. 

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As announced by the exchange in a blog post, Pravjit Tiwana, Gemini’s global chief technology officer (CTO) has been given additional responsibility as the APAC chief executive officer (CEO). With the new position, Tiwana will govern the exchange’s new product launched in the region and ensure financial stability, compliance, and transparency.

Gemini’s Plan for India

As part of its APAC growth plans, the US-based exchange is opening its first office in Guragaon India, a city southwest of New Delhi. Interestingly, this new office will be Gemini’s second largest engineering hub aside from the U.S. The office will be added to the firm’s existing offices in the United States, United Kingdom, Singapore, and Ireland.

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Notably, the exchange will be focused on building relationships with local businesses and partners and hopes to expand its operation in the country (India and Singapore) so as to implement its go-to-market (GTM) strategies.

What’s in it for Gemini?

Gemini’s potential entry into the Indian market comes at a time when the country’s cryptocurrency industry is seeing significant growth. A recent report also revealed that the number of cryptocurrency users in India had increased by 641% since January 2020, despite the regulatory uncertainty and the pandemic.

The exchange’s interest in expanding into the Indian market reflects the growing importance of Asia Pacific in the global cryptocurrency industry.

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With a large and tech-savvy population, India presents significant opportunities for growth. Meanwhile, Gemini’s focus on compliance and security, as well as its track record of successes in other jurisdictions could help it establish a foothold in the Indian market and contribute to the development of the country’s crypto industry.

Exchanges Push for Global Prominence

Just recently announced by thecoinrise.com, the US-based crypto exchange Coinbase Global Inc has been granted a regulatory license by the Bermuda Monetary Authority to launch an offshore derivatives exchange in Bermuda next week. The license will permit Coinbase to offer its services to residents in Bermuda including buying, selling, and storing digital assets, in addition to providing custody and exchange services. 

Recall that in November 2022, Gemini also announced its European expansion into Denmark, Portugal, Sweden, Czechia, Latvia, and Liechtenstein.

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