Gemini Announces Plans for Expansion in Asia-Pacific Amid SEC Lawsuit
Crypto exchange Gemini has announced plans to expand into the Asia-Pacific (APAC) region to capture the “next wave of growth for crypto.”
The US-based crypto exchange aims to increase its headcount in Singapore and establish an engineering division in India, the platform said in a Monday blog post.
“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 company wrote.
Gemini detailed that it plans to increase the number of staff at the firm’s Singapore office by more than 100 over the next 12 months.
"Our Singapore office will serve as a hub for our larger APAC operations. We believe that APAC will be a great driver of the next wave of growth for crypto and Gemini."
Gemini already has a notable presence in the APAC region.
Back in 2020, the platform launched support for the Singapore dollar (SGD). It has since extended support for the Hong Kong dollar (HKD) and the Australian dollar (AUD) as well.
The Asia-Pacific (APAC) region is a term used to describe the region located in and around the western Pacific Ocean.
It includes countries and territories from East Asia (such as China and Japan), Southeast Asia (such as Indonesia and the Philippines), South Asia (such as India and Pakistan), and Oceania (such as Australia and New Zealand), as well as Russia, which is often considered a transcontinental country spanning both Europe and Asia.
Gemini's expansion plan comes as the platform has been under increasing regulatory scrutiny in the US.
Earlier this year, the SEC brought charges against Gemini over its Earn Program, alleging that the exchange provided an "unregistered offer and sale of securities to retail
Read more on cryptonews.com
