Bitcoin Surges Above $28K, Commands 49% Market Share as Alts Struggle

• Gemini, the digital assets exchange led by Tyler and Cameron Winklevoss, plans to expand its operations in the Asia-Pacific (APAC) region.
• The company intends to increase its Singapore headcount to over 100 employees within the next 12 months.
• Gemini also plans to establish an engineering base in India, a move aimed at bolstering the company’s technical capabilities in the region.

Gemini Expands Operations to Asia Pacific Region

Gemini, the digital assets exchange led by Tyler and Cameron Winklevoss, has announced plans to expand its operations in the Asia-Pacific (APAC) region. The company intends to increase its Singapore headcount to over 100 employees within the next 12 months and establish an engineering base in India.

Increased Headcount in Singapore

The Winklevoss-led exchange has stated its intent to increase its headcount in Singapore to over 100 employees within the next 12 months. According to a company announcement made on June 19th, 2023: “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.“

Establishing Engineering Base in India

Gemini’s growth plan includes establishing an engineering base in India, a move aimed at bolstering the company’s technical capabilities in the region. This move follows Gemini’s launch of support for transactions with Singapore dollar (SGD) back in December 2020 as well as their Hong Kong dollar (HKD) support back in March 2021.

U.S Regulatory Pressure Intensifies

As U.S scrutiny of crypto exhanges intensifies, expanding into Asia could provide Gemini with some relief from domestic regulatory pressures while further increasing their presence abroad. With increased interest from institutional investors and Wall Street giants such as Blackrock filing ETF applications and Deutsche Bank applying for a digital asset custody license – it is clear that cryptocurrency is gaining widespread acceptance across global financial markets and institutions alike.

Conclusion

It therefore makes sense that Gemini is looking towards Asian markets as they seek new avenues of expansion while providing users with easy access cryptocurrency transactions backed by government regulations and oversight.