Gemini Pursuing Indian Market to Establish Engineering Centre

The Winklevoss brothers’ crypto exchange Gemini plans to establish an engineering centre in Northern India. The proposed architect for the hub would be the second largest after Gemini’s most prominent engineering center in the US.

Establishing Gemini’s Gurgaon engineering center aims to attract new talents in the technology sector. An official announcement from the Gemini team revealed that the crypto exchange has “big plans” for the Asia market.

Importance of the Gemini Engineering Hub

A few days ago, the Winklevoss twins strategically supported the materializing of its “Big Plans” for the Asian market. Firstly, Tyler and Cameron Winklevoss restructured the Gemini leadership structure to ease the transition to Asia.

Pravjit Tiwana ascended to the chief technology officer position (CTO). He was tasked to oversee the operation of Asia-Pacific (APAC). Also, Tiwana will spearhead the launching of Gemini’s digital assets in APAC region.

An overview of Tiwana’s career profile demonstrated that he was the best suited for the CTO role. Previously Tiwana was the head of engineering at Amazon Web Services (AWS). Before joining the AWS Group, Tiwana had worked with tech industrial heavyweights, including Disney and Microsoft.

Also, he was tasked to explore suitable revenue-generating projects for the Asian market. During Tiwana’s appointment, the Winklevoss brothers announced that the Gemini team plans to create new products and an strong engineering workforce in India.

The Gemini India team will integrate additional features to the crypto exchange to uphold compliance and data security. The team will focus on improving the Web3 experiences for the Indian consumer.

The engineering hub will be utilized to conduct extensive studies for developing non-fungible tokens (NFTs) and marketplaces for Gemini digital assets. According to the Gemini report, the Indian team will create innovative products for retail and institutional clients that will be promoted to more than 70 countries. 

Gemini Reveals Plans for the Indian Market

On April 20, Gemini posted 18 job openings on the company website. The Gemini career portal demonstrates that the company is seeking to hire 14 engineering candidates. 

Also, the crypto firm is aiming to onboard a suitable candidate to fill the vice president position. Responding to the job vacancy post, Tiwana was pleased to announce that Gurgaon City has a large workforce pool for technical talents. 

He confirmed that Gemini India plans to recruit hundreds of employees to fill vacant positions in the support and technical department. He remarked that the Gurgaon region has a growing number of Web3 firms. Also, Gurgaon nears the leading policy-making institutes in India.

Objective of Gemini Expansion to Overseas Market

Afterward, the Gemini team will pursue the Singapore market to launch a go-to-market (G2M) for global retail and institutional investors. Gemini APAC project aligns with the impending launch of a crypto derivatives exchange for perpetual futures.

In a previous statement, the Gemini team revealed plans to expand to overseas markets through the digital derivatives exchange. The Winklevoss twins confessed that the APAC region would continue to experience growth in crypto and Web3 technologies. 

They argued that crypto has proven to be limitless and borderless. The growth of crypto has challenged Gemini to broaden its geographic presence to global markets. On April 12, Gemini submitted a pre-registration document to the Ontario Securities Commission. 

In their submission, the Gemini team underscored plans to operate in Canada. Surprisingly, Canada has adopted strict crypto regulations to protect consumers from exploitation.

Crypto Regulation in Asia

On the other hand, India introduced a new taxation regime in the previous trading year. A recent analysis of the Indian crypto regulation revealed that digital asset policies lack clarity and sustainability. This uncertainty is rooted in the delays in the legalization of crypto assets.

However, holding the presidency position at the G-20 countries, the Indian policymakers are pushing to formulate international crypto regulations. This will support the International Monetary Fund to develop a synthesized report on monetary policy and crypto regulations.

Following the fallout of the Bahamian crypto exchange, investors have expressed interest in bridging the derivative exchange gap. On April 19, Gemini’s competitor Coinbase revealed plans to launch a European crypto derivative exchange. 

This announcement was conveyed after the crypto exchange’s virtual asset service provider license was green-lighted by the Bermuda Monetary Authority (BMA). Furthermore, the largest Bitcoin options exchange platform, Deribit, plans to release a spot exchange platform on April 24.

The Deribit platform will provide investors endless trading opportunities for buying and selling digital assets at zero cost.