Gemini, a New York-based crypto exchange, is expanding its operations to the Asia-Pacific (APAC) region. According to a Monday blog post, the company sees the region as driving the “next wave of growth for crypto.” Gemini plans to increase its headcount in Singapore, which will serve as the hub for its APAC operations, to over 100 in the next 12 months, while also opening an engineering base in India. Customers in the region will be able to use the Singapore dollar (SGD), Hong Kong dollar (HKD) and the Australian dollar (AUD) to buy and sell cryptocurrencies on Gemini’s platform.
“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,” said the company.
The expansion comes as Gemini tries to establish itself outside of the U.S., which this year has seen increased regulatory actions against crypto exchanges. In April, the exchange said it would open a new crypto derivatives platform offshore. Coinbase, another crypto exchange, also said recently it will open a derivatives exchange in Bermuda as part of its expansion outside of the U.S.