{"id":410685,"date":"2023-06-22T10:55:09","date_gmt":"2023-06-22T10:55:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=410685"},"modified":"2023-06-22T10:55:09","modified_gmt":"2023-06-22T10:55:09","slug":"gemini-expands-singapore-hub-to-drive-crypto-adoption-beyond-u-s-shores","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/gemini-expands-singapore-hub-to-drive-crypto-adoption-beyond-u-s-shores","title":{"rendered":"Gemini Expands Singapore Hub To Drive Crypto Adoption Beyond U.S. Shores"},"content":{"rendered":"

Gemini, a US-based crypto platform, has revealed its plans to expand its operations in the Asia-Pacific (APAC) region. This comes after the company’s leadership team recently visited the area on a global mission to drive the adoption of cryptocurrencies outside the United States.<\/p>\n

Gemini Sets Sight Beyond America<\/h2>\n

Gemini plans to increase its headcount in Singapore to more than 100 employees over the next year. The office will be the company’s central hub for its ramped-up plans to target the Asian market.<\/p>\n

In an announcement, the company said<\/a>:<\/p>\n

Our Singapore office will be a hub for our more extensive APAC operations. We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini.<\/em><\/p><\/blockquote>\n

In December 2020, the crypto firm launched support for the Singapore Dollar (SGD), enabling Singapore residents to access cryptocurrencies seamlessly. Additionally, Gemini supports the Hong Kong Dollar (HKD<\/a>) and the Australian Dollar (AUD<\/a>).<\/p>\n

Gemini’s support for the SGD is a key step towards making cryptocurrencies easily accessible around the world, as well as delivering additional exchange choices for clients.<\/p>\n

The recent developments come as Gemini looks beyond its traditional U.S. market and expand its presence in the fast-growing Asian cryptocurrency market.<\/p>\n

As a financial hub in the heart of Asia, Singapore is becoming a popular destination for crypto companies who are looking to tap into the region’s growing appetite for digital assets.<\/p>\n

Platform’s Engineering Base In India<\/h2>\n

Away from Singapore, Gemini plans to set up an engineering center in Gurgaon, India. Focussing on software development and engineering operations, the company’ wants it to become its second-largest engineering hub after the U.S.<\/p>\n

This move is not surprising given the country’s reputation as a global technology hub with a large pool of skilled software engineers.<\/p>\n

India is home to some of the world’s leading technology companies, such as Polygon (MATIC<\/a>), and other global firms.<\/p>\n

\"Gemini<\/a><\/p>\n

Gemini outlined its plans for the Gemini Foundation, a crypto derivatives exchange focused on customers outside of the U.S., in April. The Foundation is set to be based in Singapore as well, according to reports<\/a>.<\/p>\n

Regulatory Pressure<\/h2>\n

The news comes as U.S. authorities crack down heavily on large, U.S.-based crypto exchanges for listing cryptocurrencies it claims are unregistered securities. Recently, the SEC sued some major exchanges, including Coinbase and Binance.<\/p>\n

Apart from Gemini, Coinbase<\/a> is looking outside the U.S. for similar reasons. In May, the giant crypto platform extended the range of the services it offers customers in Singapore.<\/p>\n

Hassan Ahmed, country director for Singapore at Coinbase at the time, said:<\/p>\n

The message here is that the world is sort of moving on with or without the U.S. We are very committed as a global company to keep moving forward on international expansion.<\/em><\/p><\/blockquote>\n

As the crypto realm grows, exchanges such as Gemini will undoubtedly play a vital role in driving the adoption of crypto and blockchain technology in Asia and beyond.<\/p>\n

Related News<\/h2>\n