Gemini Plans to Invest $24 Million In Its India Technology and Development Facility
On September 26, Gemini announced its plans to invest $24 Million (INR 200 crore) in its engineering hub and development centre in Gurgaon, India. Gemini’s Center for Crypto and Technology Innovation at Gurgaon’s Cyber Hub is staffed by over 70 employees.
“India has long been regarded as a hub for bar-raising talent by the world’s top technology companies, and we are thrilled to share that we are deepening our investment in the country. Over the next two years, we plan to invest INR 200 crore ($24 million) to grow our development center in Gurgaon,” Pravjit Tiwana, CEO APAC & Global CTO, Gemini, said in an announcement.
The Cameron and Tyler Winklevoss-founded crypto exchange will use the India technology center to develop products and services across engineering, design, and operations for its customers worldwide.
The teams based in Gurgaon will take care of core platform fundamentals in compliance, data pipelines, warehousing, security, and payments. Gemini has over 500 employees, of which the Gurgaon center has around 70. Gemini plans to take its headcount at Gurgaon to over 150 in the next two years, Tiwana stated.
The announcement also revealed that the company is actively hiring for key roles across software engineers, technical product managers, talent acquisition, finance, compliance, and support.
In April, Gemini announced the launch of its engineering center in India. In the announcement, the company said it plans to develop products and services that unlock the next era of financial, creative, and personal freedom with crypto and Web 3 innovation.
“Right now, we are in the midst of opening our engineering center in Gurgaon, India, and are actively hiring in the region. Our Gurgaon office will be the second largest Gemini engineering hub behind the United States and complement our existing offices in the United States, the United Kingdom, Ireland, and Singapore,” Tiwana said in an announcement on April 20.
On why Gemini selected India to open its technology hub, the company said it is encouraged by the Indian government’s Startup India initiative that has created a robust startup ecosystem, which ranks third globally.
While crypto exchanges face a hostile regulatory environment in India, several crypto and blockchain companies have opened their technology centers there. For example, Coinbase has a technology hub in Hyderabad, and Ripple has offices in Mumbai and Bengaluru, the latter being an IT hub.
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