Gemini, a United States-based cryptocurrency exchange founded by Cameron and Tyler Winklevosshas announced its expansion plans in the Asia-Pacific region.
In a blog post published on June 19, gemini said that he planned to increase the number of employees in the company’s Singapore office, as well as establish an engineering division in India. The cryptocurrency exchange hinted at “major” expansion plans in the region in the next 12 months.
“We believe that APAC will be a great driver of the next wave of growth for cryptocurrencies and Gemini”they stated from the exchange.
1/ We’re expanding in the Asia Pacific region!
Our Singapore office will serve as a hub for our larger APAC operations and we plan to increase our headcount to 100+ in Singapore pic.twitter.com/4fo06cKiLb
— Gemini (@Gemini) June 20, 2023
1/ We are expanding in the Asia Pacific region!
Our Singapore office will serve as the hub for our larger APAC operations and we plan to grow our workforce to over 100 in Singapore.
The expansion plans came at a time when Gemini was facing a lawsuit filed in January by the US Securities and Exchange Commission (SEC) in connection with “Gemini Earn.” The exchange’s product — offered in partnership with Genesis — allows users to lend crypto assets to Genesis, which the SEC said violated US securities law.
Gemini seemed to be exploring different markets amid the crackdown on many cryptocurrency companies in the United States. In April, the exchange took the first steps to become a registered restricted dealer with the Ontario Securities Commission of Canada, one of the country’s main financial regulators. In May, the Winklevoss twins announced that they had chosen Ireland as a base to expand the company’s services in Europe.
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