June 21, 2023

Gemini To Hire over 100 Employees in Singapore Next Year

Gemini

Gemini

Cryptocurrency exchange Gemini eyes its global expansion by planning to increasingly expand its businesses in the Asia-Pacific (APAC) market, Cointelegraph reported.  

Gemini announced that it would hire more than one hundred employees to its team in Singapore within the next year as it believes in the potential for growth for the APAC market. 

“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,” the US-based crypto exchange said in a blog post. It also added that it intends to open an engineering base in India to support its APAC expansion. 

The move comes less than three years after the crypto exchange had added support for the Singaporean dollar to provide the country’s residents with crypto services with their local currency. 

It is noticed that Gemini is trying to search for different new markets outside the United States following the lawsuit filed in January by the US Securities and Exchange Commission (SEC) over “Gemini Earn.” 

Earlier this month, Gemini announced that it has started the procedures to obtain a crypto service license for customers in the UAE.

In a press release, Gemini attributed its move to the growing crypto enthusiasm in the UAE and positive conversations with regulators in Dubai and Abu Dhabi. Gemini listed data from a survey about the crypto situation in the Arab country, saying more than 35% of those surveyed in the UAE had purchased crypto, compared to only 20% of those in the US.

In addition, the twin brothers Cameron and Tyler Winklevoss, founders of Gemini, told Zawya in an interview that they shifted their attention to the UAE due to their fruitful meetings on virtual assets with investors, customers, and regulators, pointing to a situation of no clarity or consistency in the US about regulations regarding digital assets.

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