Cryptocurrency exchange Gemini announced plans to increase the number of employees in the Singapore branch to more than 100 people.
According to the platform, the branch will be the starting point for the company’s entry into the Asian market.
“The Singapore office will serve as the hub for our larger operations in the Asia Pacific region. We believe the jurisdiction will be a great driver of the next wave of growth for cryptocurrencies and Gemini,” the blog reads.
The exchange is already in the process of opening an office in Gurgaon, India. According to the platform, the company is recruiting for the second largest “Gemini engineering center after the United States.”
In March, it became known that the bitcoin exchange intends to launch a crypto-derivative platform focused on the international market. According to media reports, Gemini will allegedly register a new service outside the United States.
The exchange’s desire to expand may be due to pressure from US regulators. In June 2022, the U.S. Commodity Futures Trading Commission sued Gemini. The documents alleged that the platform was misleading the agency regarding bitcoin futures contracts.
In early 2023, the US Securities and Exchange Commission also accused the exchange of unlicensed trading in securities through the Earn service. Gemini disputed the regulator’s lawsuit.
Recall that in May, the founders of the platform, Cameron and Tyler Winklevoss, announced plans to open a headquarters in London. According to them, such a decision was made because of the “hostile” regulatory climate.
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