The crypto exchange has already announced efforts to expand into Canada and Europe amid a lawsuit from the United States Securities and Exchange Commission.
United States-based cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, has announced plans to expand into the Asia-Pacific (APAC) region.
In a June 19 blog post, Gemini said it planned to increase the number of staff at the firm’s Singapore office as well as establish an engineering division in India. The crypto exchange hinted at “larger” plans for expanding into the region in the next 12 months.
“We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini,” said the exchange.
1/ We’re expanding in the Asia Pacific region!
— Gemini (@Gemini) June 20, 2023
Our Singapore office will serve as a hub for our larger APAC operations and we plan to increase our headcount to 100+ in Singapore pic.twitter.com/4fo06cKiLb
The expansion plans come amid Gemini facing a lawsuit filed in January by the U.S. Securities and Exchange Commission (SEC) over “Gemini Earn.” The exchange’s product — offered in partnership with Genesis — allowed users to lend crypto assets to Genesis, which the SEC alleges violated U.S. securities laws.
Related: Gemini considers forbearance after DCG defaults on a $630M payment
Gemini seemed to be exploring different markets amid the crackdown on many crypto firms in the United States. In April, the exchange took the first steps to become a restricted dealer registered with Canada’s Ontario Securities Commission, one of the country’s major financial regulators. In May, the Winklevoss twins announced they had chosen Ireland as a base to grow the firm’s services across Europe.
Magazine: Best and worst countries for crypto taxes — plus crypto tax tips
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments