Crypto exchange Gemini plans to expand in Asia-Pacific (APAC), a region it sees as driving the “next wave of growth for crypto.”
“We are excited to announce our expansion plans in APAC as Gemini’s leadership team recently visited the region on their global odyssey to propel the promise of crypto,” the New York-based company said in a Monday blog post.
The expansion comes as Gemini tries to establish itself outside of the U.S., which this year has seen increased regulatory actions against crypto exchanges. In April, the exchange said it would open a new crypto derivatives platform offshore. Coinbase, another crypto exchange, also said recently it will open a derivatives exchange in Bermuda as part of its expansion outside of the U.S.
Gemini will increase its headcount in Singapore, which will serve as the hub for its APAC operations, to over 100 in the next 12 months, while also opening an engineering base in India.
The exchange currently supports the Singapore dollar (SGD), Hong Kong dollar (HKD) and the Australian dollar (AUD) to buy and sell cryptocurrencies on its platform.
UPDATE (June 20, 18:10 UTC): Updated last sentence to reflect that Gemini already supports SGD, HKD and AUD.
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