Crypto exchange Gemini to invest $24 million in India hub

• Gemini has revealed plans to invest $24 million in its technology and crypto hub in India. 
• The crypto exchange is hiring more in compliance, software engineering and support to add to its 70+ workforce at the Gurgaon center.

US crypto exchange Gemini plans to invest INR 200 crore ($24 million) in its India-based development center, according to details announced today.

The exchange will plough this amount into the Gurgaon technology hub over the next two years, said Pravjit Tiwana, Gemini’s CEO of Asia Pacific. Tiwana is also the cryptocurrency company’s global chief technology officer (CTO).

“India has long been regarded as a hub for bar-raising talent by the world’s top technology companies, and we are thrilled to share that we are deepening our investment in the country. Over the next two years, we plan to invest INR 200 crore ($24 million USD) to grow our development center in Gurgaon,” Tiwana wrote in a blog release published September 26.

Growing crypto and Web3 in India

Gemini launched the Gurgaon technology development center in May and recently opened an office at the Cyber Hub at Campus Cyber Greens. 

Despite the uncertain regulatory landscape in India, the tech hub has seen its employee count grow to over 70 people.  The investment will be used to grow the team and to further the innovation at the Gurgaon hub.

This should see Gemini support the overall growth of the crypto ecosystem in India and around the globe, cutting across all 70+ countries that the exchange has operations. Other targets include using the development center to enhance “core platform fundamentals”, which includes compliance, security, data pipelines and warehousing, and payments. 

Other than software engineers and technical product managers, Gemini is looking to hire talent in finance, customer support and compliance.

Gemini’s India expansion looks to tap into the country’s position as one of the leading entrepreneurial and technological development hubs to bring crypto and Web3 to the masses.