Gemini is the latest US crypto firm to take action offshore the crypto space following its move.
United States-based cryptocurrency exchange Gemini disclosed it Plan of To tap into India’s pool of technical talent with the foundation of a new engineering hub in the country. Pravjit Tiwana, Gemini’s international chief technology officer, announced in a statement that the exchange is currently in the midst of launching an engineering center in Gurgaon, India. It also claimed that it would be the second largest engineering hub of the exchange apart from the United States.
Tiwana will oversee the entire project and has been appointed as the Chief Executive Officer of Gemini Asia Pacific in parallel to his role as Global Chief Technology Officer.
Gemini, the crypto exchange by the Winklevoss twins, revealed the growth of its global engineering and operations teams. On April 20, Gemini said it was opening a new office in Gurgaon, India. It is the latest American crypto firm to offshore after taking action on the crypto space.
The Gemini crypto exchange is still a US-based company, but the regulatory crackdown is prompting crypto firms to relocate to more friendly countries. Recently, Coinbase, one of the largest cryptocurrency exchanges in the world, revealed its plans to open an offshore exchange in Bermuda. The decision not to relocate the exchange to India is probably because cryptocurrency regulations are not implemented with clarity in the country. However, they are taking shape. Last month, the Finance Minister of India suggested the creation of a common crypto framework for the G20 countries.
According to Tiwana, the company is actively hiring software engineers and technical product managers to work from the Gurgaon office, along with other key roles such as human resources, talent acquisition, finance and support. In another statement from Tyler and Cameron Winklevoss, the exchange has big plans for international growth in APAC this year. Gemini claims that the India unit is working on a broad remit, which will develop web and mobile user experiences, and contribute to platform compliance, data pipeline, warehousing, security and payments.
HUB will also design new feature sets for Gemini nft and crypto asset marketplace. The products and facilities in India will be used by more than seventy countries around the world.
The development follows Gemini’s disclosure on April 12 about its pre-registration filing with the Ontario Securities Commission, the regulator responsible for capital markets in Canada’s most populous region. This is a prerequisite for crypto exchanges wishing to do business in Canada and become a restricted dealer in the country.
Sana is a chemistry major and a blockchain enthusiast. As a science student, his research skills enabled him to understand the intricacies of financial markets. He believes that blockchain technology has the potential to revolutionize every industry in the world.
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