Gemini to expand Singapore office workforce

The cryptocurrency exchange Gemini announced plans to increase the number of employees at its Singapore office to more than 100 people.

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According to the platform’s statement, the Singapore office will be the launching point for the company’s entry into the Asian market.

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\”The office in Singapore will serve as the hub for our larger operations in the Asia-Pacific region. We believe the jurisdiction will be an excellent driver of the next wave of crypto growth for Gemini,\” the blog said.

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The exchange is already in the process of opening an office in Gurgaon (India). According to platform representatives, the company is recruiting staff for Gemini’s second-largest engineering center after the United States.

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In March it emerged that the bitcoin exchange plans to launch a crypto-derivatives platform aimed at the international market. According to media reports, Gemini allegedly will register the new service outside the United States.

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The exchange’s drive to expand could be linked to pressure from US regulators. In June 2022, the U.S. Commodity Futures Trading Commission filed a lawsuit against Gemini. The documents alleged that the platform misled the agency regarding bitcoin futures contracts.

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In early 2023, the U.S. Securities and Exchange Commission also accused the company of unregistered trading of securities through the Earn service. Gemini disputed the regulator’s suit.

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Earlier in May, Cameron and Tyler Winklevoss, the platform’s founders, announced plans to open a London headquarters, saying the decision was driven by a ‘hostile’ regulatory climate.