Digital asset exchange Gemini, led by husband and wife Tyler Winklevoss and Cameron Winklevoss, has announced plans to expand its operations in the Asia Pacific (APAC) region amid increased U.S. scrutiny of cryptocurrency exchanges.

A company said it intends to increase its headcount in Singapore to more than 100 within the next 12 months. announcement Created on June 19, 2023.

“Our Singapore office will serve as the hub for our large APAC business. said in.

Gemini’s growth plans also include the establishment of an engineering base in India, which aims to strengthen the company’s technological strengths in the region.

Interest in Asia

Gemini’s interest in the Asia-Pacific region is nothing new. In December 2020, the company launched support for the Singapore Dollar (SGD), making it easier for residents to access cryptocurrency trading. The platform also supports Hong Kong Dollars (HKD) and Australian Dollars (AUD) to serve his wider APAC customer base.

“Singapore is a financial hub in the heart of Asia and a fast-growing market for cryptocurrencies,” Gemini said in an interview in December 2020. announcement. The company was the first North American exchange to launch an SGD trading pair, a move seen as an important step towards making cryptocurrencies globally accessible and offering more trading options.

Gemini’s expansion comes as US regulators step up their scrutiny of cryptocurrency exchanges and the wider industry. As the digital currency market continues to evolve, the Winklevoss-led firm appears poised to capitalize on the expected growth in the Asia-Pacific cryptocurrency market.

As the cryptocurrency landscape continues to evolve and adapt to regulatory changes, Gemini’s expansion into the Asia-Pacific region gives it a more substantial presence outside of the US market, where regulatory pressure is increasing by the day. could mean a strategic move to establish

An article first appeared on CryptoSlate about Gemini eyeing the Asia-Pacific market as US regulatory pressure mounts.

By Jules

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