Since its May launch, the Gemini Gurgaon Hub has recruited over 70 new employees.
The Gemini exchange has allocated 2 billion rupees ($24 million) for its expansion in India.
As announced on September 26, the funding will used to expand Gemini’s Gurgaon development center. “Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce,” the exchange stated.
With almost 70 employees since its May opening, the Gemini Gurgaon Development Center is actively hiring software engineers, technical product managers, talent acquisition, finance, support, and compliance specialists. Gemini highlighted the Indian government’s “robust support framework that allows startups to thrive” as motivation for the expansion. In addition, the website serves as a developer for the exchange’s new nonfungible token and asset marketplace features.
In April, Gemini stated that it has “big plans for international growth this year in APAC,” which refers to the Asia-Pacific region. Their operations in India are anticipated to be the second largest, after its headquarters in the United States. Pravjit Tiwana, CEO of the firm’s APAC region, described India as a “global hub for entrepreneurship and technological development.”
About 50% of local and state governments in India have integrated blockchain technology into their data management systems and have issued verifiable certificates, demonstrating the active adoption of blockchain technology in this country. The most recent survey found that more than 56% of Indian businesses expressed interest in corporate blockchain in a country estimated Web3 developer base of 10 million individuals. A total of $1.5 billion was invested in 450 Web3 startups located in India between 2021 and 2022.
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