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

article-image

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

share

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.”


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (6).png

Research

In recent months, a number of highly accretive developments were implemented across the protocol to improve fee capture, expand product functionality, and ultimately drive value accrual to the RUNE token, with more upgrades on the immediate horizon. These developments include hiking the minimum swap fee parameter to increase revenue, adding a Burn System Income Lever to reduce the RUNE supply, the addition of COSM-WASM smart contracting and IBC to enable an application layer, new chain integrations, and more.

article-image

Crypto tokens were never securities, and the SEC’s backtrack proves it

article-image

Permissionless provokes thoughts on the future of crypto as folks engage in pull-up competitions

article-image

Plus, Casey sits with House Majority Whip Tom Emmer to get his views on crypto policy progress

article-image

Blockworks Advisory helps protocols coordinate their launch and growth through white-glove, bespoke services

article-image

The app has just two tabs, one for making swaps and one for viewing your wallet balance