Gemini, a popular cryptocurrency exchange, is investing 2 billion rupees ($24 million) towards its expansion in India.

The funds, according to the September 26 release, would be utilized to expand Gemini's development facility in Gurgaon. According to the announcement:

“Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce.”

The Gemini Gurgaon Development Center has grown to over 70 employees since its inception in May, with active hiring for software engineers, technical product managers, talent acquisition, finance, support, and compliance.

In favor of the expansion, Gemini acknowledged the Indian government's "robust support framework that allows startups to thrive." The site also serves as a developer for the exchange's new nonfungible token and asset marketplace functionalities.

Gemini revealed in April that it has "big plans for international growth this year in APAC," referring to the Asia-Pacific region. Its India operations are slated to be the second-largest, trailing only Gemini's headquarters in the United States.

Pravjit Tiwana, the firm's APAC CEO, referred to India as a "global hub for entrepreneurship and technological development."

Sources:

https://cointelegraph.com/news/gemini-invests-24-million-india-expansion

https://www.gemini.com/blog/gemini-to-deepen-india-investment-over-next-two-years-with-plans-to-invest