Gemini’s Growth Trajectory in India

Gemini’s global chief technology officer, Pravjit Tiwana, announced ambitious plans to increase personnel to over 100 by the end of 2023 and to nearly 200 by the end of 2024.

Tiwana praised the caliber of India’s technological aptitude, stating:

 “The quality of technology talent in India is great.”

Gemini has yet to launch a cryptocurrency exchange in India, despite its aggressive growth. This may result from the country’s stringent crypto taxation policies, which include a 30% fixed tax on crypto gains and a 1% tax deduction at source for crypto transactions.

These regulations have had a significant impact on the country’s trading volume. Gemini’s expansion into India reflects a more substantial trend among crypto companies.

Coinbase opened an office in India and started hiring engineers in March 2021. Meanwhile, BitGo, a cryptocurrency custodian based in California, is recruiting for nearly a dozen positions in its Bengaluru office.

Gemini also focuses on expanding its business team in Singapore and its operations in India. The company intends to increase its Singapore workforce to approximately 100, diversifying its global presence.

This action is consistent with Gemini’s strategy to navigate the increasing scrutiny of US regulators and the challenges of Genesis’s bankruptcy.

Gemini remains optimistic about its development prospects in the future. Gemini’s leadership believes that the “Startup India” initiative, a government program encouraging entrepreneurship and technological advancement, will facilitate the company’s growth.

As Gemini continues to expand its global operations, its dedication to investing in talent and technology demonstrates its aspiration to become a market-leading cryptocurrency exchange.