Gemini, a cryptocurrency exchange, intends to grow in Asia-Pacific (APAC), which it believes will be the “next wave of growth for crypto.” The New York-based business wrote in a blog post on Monday, “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.”
The growth comes as Gemini seeks to expand itself outside of the United States, where regulatory measures against cryptocurrency exchanges have escalated this year.The exchange said in April that it would launch a new cryptocurrency derivatives platform outside.Another cryptocurrency exchange, Coinbase, recently announced that as part of its international growth, it would establish a derivatives exchange in Bermuda.Within the next 12 months, Gemini will hire over 100 people in Singapore, which will be the center of its APAC activities, and establish an engineering facility in India.
On Gemini’s platform, customers from the region will be able to purchase and sell cryptocurrencies using the Singapore dollar (SGD), Hong Kong dollar (HKD), and Australian dollar (AUD).