Gemini Exchange planned to invest 200 Crores INR

pakhitheboss

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Quote from: Bitcoin Smith on October 03, 2023, 03:52:17 AM

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 Hub

How 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.

cafter

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Quote from: Bitcoin Smith on October 03, 2023, 03:52:17 AM

snip

Gemini's decision to invest INR 200 crores ($24 million) in India is a smart move. Despite the 30% crypto tax, India offers many advantages for businesses like:

Talent: India has smart people, like Google and Microsoft CEO's sunder, making it great for tech ventures.
Cost Efficiency: Low living costs mean you can do more with less money then any other country.
Government Support: Initiatives like "Startup India" supports business growth.
Infrastructure: India has good physical and digital infrastructure.
Big Market: With 1.3 billion people, it's a huge market for products and getting new ideas.
English: Most people in India speak English, making it easy for global business.

So, despite challenges, India remains an attractive place for businesses to grow.

TheUltraElite

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Let them start with the hiring of developers and growing their business here, lets not be pessimistic about it.

Because you see, in order to launch a business in a new country, one needs to stay there and learn the ways and test the waters. By setting up office here, they can eventually decide whether to pull out because of problems or stay and offer services.

What I get pessimistic about is the government here, where politicians know shit about crypto and are pushing it under the rug.

Bureau

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They are only investing in software development, they are not doing anything to bring their exchange in India. I do not view this news as a positive new for the Indian crypto community as it is all about development of their infrastructure. Gemini exchange had opened their development center in Gurgaon a few years back. What they are now doing now is expanding it as India has the best skills in software development. The investment by them would help the economy of India, it will help India in achieving its goal of a 5 trillion dollar economy, apart from those goals I cannot think of anything with this news.

Bitcoin Smith

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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 Hub

How 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.

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