Gemini exchange is one of the oldest crypto exchange founded in 2014 in the global market and they recently launched their start-up in India back May, after testing enough for the last few months now they announced the invest 200 crores rupees ($ 24 millions) over the course of next 2 years to expand their company in India.
Also, Pravjit Tiwana (CEO APAC | Global CTO) mentioned "
We are actively hiring for a number of key roles in our Gurgaon office, including software engineers, technical product managers, people operations and talent acquisition, finance, support, and compliance."Gemini To Deepen India Investment Over Next Two Years, With Plans to Invest INR 200 crore In Gurgaon Engineering HubHow do you see this?
Especially when crypto exchanges are struggling to survive the market due to the Indian tax rate of 30%, but now another global exchange entered into the competition which shows that there is lot of potential to make profits by the exchange in India.
Coinbase also has a hub in India with an investment of $150 million in total. Gemini is following the same path as Coinbase, a lot of new job opportunities would be created by this investment. I am certain they won't start their exchange operation in India unless regulation comes into place. This is a piece of good news for the Indian economy which is looking far better than the global economies.
Only Indian exchanges are struggling for now and not global exchanges like Gemini. This news has nothing to do with them starting their Indian operation. It is only related to software development and research, which they have outscored to India.