Gemini, a cryptocurrency exchange, has announced plans to expand its operations in the Asia-Pacific (APAC) region. The plans include increasing staff members in Singapore, which will serve as the regional hub, and launching an engineering base in India.

"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," Gemini wrote in a blog post published yesterday (Monday). "Over the next 12 months, we plan to increase our headcount to 100+ in Singapore."

Multiple Crypto-to-Fiat Options

Customers in the region would be able to use the Singapore dollar (SGD), Hong Kong dollar (HKD) and Australian dollar (AUD) to trade cryptocurrencies on the exchange's platforms, Gemini said. The exchange started supporting the SGD in 2020.

In a separate announcement, Gemini said it was building its second-largest engineering hub outside of the US in Gurgaon, India. The hub would help in the development of web and mobile user experiences, focusing on, among other areas, the core fundamentals of payments and security. The company added that the hub would focus on building new features for the exchange's NFT marketplaces.

In light of the same, Gemini announced that it was actively hiring software engineers and technical product managers in India. Moreover, the exchange is searching for additional staff to fill other roles, including those in human resources, finance, compliance, and support.

Gemini's Offshore Options

Gemini's step to strengthen its presence in the APAC region is part of a wider plan to establish itself outside the US, where there are heightened regulatory actions. The digital asset exchange, which termed APAC as a 'great driver of the next wave of growth for crypto', also announced plans to open an offshore crypto derivatives platform in April.

Similar plans were announced by the rival exchange, Coinbase, which later opened a derivatives exchange in Bermuda. This has become a growing trend in the US following the recent crackdown on cryptocurrency exchanges by the Securities and Exchange Commission (SEC). At the beginning of the year, the securities regulator charged Gemini for allegedly selling unregistered securities.

In the case, which mentioned the now-bankrupt cryptocurrency lender, Genesis, the SEC requested a court order to halt Gemini from operating its Gemini Earn product. Besides that, Gemini's Co-Founders, Tyler Winklevoss and Cameron Winklevoss, were charged in a class action lawsuit for allegedly violating federal laws.

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