Gemini, the cryptocurrency exchange, plans to open a branch in India as part of its efforts to expand its reach in the Asia-Pacific region.
Cameron and Tyler Winklevoss, founders of cryptocurrency exchange Gemini, have announced that Pravjit Tiwana, chief executive of the firm, will serve as chief executive of the exchange's Indian division. He will manage the upcoming product debuts in the region and handle financial matters. Prior to joining Gemini over a year ago, Tiwana previously worked at Amazon Web Services and held senior production positions at Microsoft and Disney.
The new Gurgaon office is expected to be Gemini's second largest call centre after the US, along with offices in the UK, Ireland and Singapore.
The Indian government has taken a tough stance on cryptocurrencies, but Tiwana declined to say anything about the country's regulation. He only said that there are many blockchain and cryptocurrency experts in India, so Gemini will gradually hire local employees.
"Gemini is looking forward to big plans in the Asia Pacific region. First of all, we will establish product development teams in India and develop plans to penetrate the Singapore market to increase our user base as well as attract new institutional customers," Gemini's management team announced.
As US regulators demonstrate their aversion to digital currencies, many US-based cryptocurrency exchanges are seeking business opportunities overseas. For example, rival exchange Coinbase this week obtained a licence to operate in Bermuda.