June 20, 2023 2:17 PM | 1 min read
Gemini, a cryptocurrency exchange based in New York, has set its sights on the Asia-Pacific (APAC) region as it seeks to broaden its global presence.
The exchange considers this region as a catalyst for the future expansion of the cryptocurrency market.
The company conveyed its enthusiasm in a blog post, stating, “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.”
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This international move by Gemini appears to be a strategic maneuver to diversify its operations beyond the U.S., particularly in light of the growing regulatory scrutiny that cryptocurrency exchanges have been facing in the country this year.
Earlier in the year, Gemini disclosed its intentions to launch a new cryptocurrency derivatives platform outside the U.S. Notably, Coinbase Global Inc., a competitor, has also expressed plans to establish a derivatives exchange in Bermuda as part of its international expansion strategy.
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A focal point of Gemini’s APAC expansion is Singapore, which is slated to become the nerve center of its operations in the region.
The company plans to employ more than 100 individuals in the country within the coming year. In addition, Gemini is set to establish an engineering hub in India.
The cryptocurrency exchange will facilitate transactions in Singapore dollars (SGD), Hong Kong dollars (HKD) and Australian dollars (AUD), enabling customers in the region to conveniently trade cryptocurrencies on its platform.
Read Next: Crypto Exchanges Push For Softer Trading Restrictions In Japan To Boost Trading Activity
Photo: Courtesy Gemini
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