Gemini backs India’s tech ecosystem with $24M office investment

Gemini highlighted India’s reputation as a talent hub for top tech companies as a key factor for establishing its presence in the country


Gurgaon, India; Source: PradeepGaurs/Shutterstock, modified by Blockworks


Crypto exchange Gemini is allocating $24 million toward expanding its operations in India over the next two years, led by APAC CEO Pravjit Tiwana.

The company initially revealed back in April the launch of its engineering center in Gurgaon, near India’s capital Delhi, as a key component of its international business expansion strategy. 

Tiwana emphasized in a statement on Tuesday that this office will play a significant role in driving Gemini’s growth in the upcoming years.

Gemini cited India’s flourishing startup environment, boosted by the government’s 2016 initiative to promote entrepreneurship and transition from a job-seeking to a job-creating society, as a reason to establish its presence there.

This support includes tax advantages, streamlined compliance, simplified company formation and faster exit options.

As a result of this program’s launch, the government has formally recognized more than 92,000 entities as startups within the country.

The teams based in this location will handle compliance, data pipelines, warehousing, security and payments-related tasks.

Gemini’s Gurgaon office is actively seeking to recruit software engineers, technical product managers, professionals in people operations and talent acquisition, finance, support and compliance roles.

As of September, the Gurgaon division has a workforce of over 70 employees.

This development occurs amidst growing unease among prominent crypto companies in the United States due to heightened regulatory oversight by US agencies.

India’s crypto scene gains momentum

While India was initially perceived as less hospitable to the crypto sector, the situation appears to be gradually changing. 

According to a recent Chainalysis report, India stands out as a global leader in “grassroots crypto adoption.”

The report also highlighted that India has risen to become the second-largest crypto market globally in terms of total estimated transaction volume, surpassing several more affluent nations.

Also, India’s Prime Minister Narendra Modi at the B20 summit in August advocated for an international framework to govern cryptocurrencies. 

Gemini’s expansion into India aligns with its recent venture into Singapore and its plans to augment its workforce in the city-state to exceed 100 employees in the upcoming year.

The company has indicated that the Singapore branch will serve as the focal point for its broader “larger APAC operations.”

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Akash is a general-purpose compute platform with GPUs, storage, LLM training or inference, and validator hosting through its two-sided marketplace.


The SEC could allow half a dozen or more such funds to launch at once, Ark Invest CEO says


2023 saw a decline in a16z crypto funding, but the behemoth VC firm teased what it’s excited for next year


“Iran Unchained” launched a new version of its grant platform to make donations to activists easier


The stablecoin marks the first time a regulated European bank has made a euro-pegged stablecoin available on a crypto exchange


Build it and they will come, perhaps, but making crypto easier to use is turning out to be just as important


Amid moves by Itau Unibanco and Nubank, the country could serve as “a proof of concept” for TradFi-crypto integrations, industry research exec says