The crypto ecosystem faced significant challenges this year, the team at Gemini noted in a recent update.
Despite the various headwinds, talented individuals across all our teams “have continued to build every day during the bear market,” Gemini claims.
As they mark Gemini’s 8th anniversary, the firm wanted to “provide an overview of recent company announcements that their teams have worked hard to bring to life.”
According to Gemini, a lot happened in 2023: their leadership team “embarked on a global odyssey tour, they launched a new crypto derivatives platform, and they opened an office in India. But, that’s merely a fraction of everything their teams accomplished.”
The progress they made in 2023 will set the stage for Gemini’s continued growth “as a global crypto platform, as they advance their mission to unlock the next era of financial, creative, and personal freedom.”
Gemini has shared what it claims is the “most impactful” updates of 2023.
In May, Gemini’s leadership embarked “on a global odyssey to meet with financial regulators, lawmakers, customers, and media across eight cities, six countries, and two continents to tell our story and learn about attitudes towards crypto worldwide.”
The bridge for the future of money. Their mission is “to unlock the next era of financial, creative and personal freedom.”
Following the tour, they are more enthusiastic “about continuing to drive their global expansion as crypto becomes increasingly essential to the global financial landscape.”
Expanding their presence and investment in India: In April, they announced the opening of their Gurgaon office in India, which will be “the second largest Gemini engineering hub behind the United States and complements their existing international offices in the United Kingdom, Ireland, and Singapore.”
In September, they built on that announcement and “revealed that over the next two years, they plan to invest INR 200 crore ($24 million USD) to grow their development center in Gurgaon, and more than double the size of our team in the country to 150+.”
India is considered to be “a leading global hub for entrepreneurship and technological development, and we are thrilled to expand Gemini’s presence.”
Launching Gemini Derivatives. In May, they launched Gemini Derivatives, a non-US crypto derivatives platform. Gemini Derivatives allows eligible customers “to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure.”
Eligible customers can “trade BTC/GUSD, ETH/GUSD, and PEPE/GUSD perpetual contracts. Follow along here for more details about Gemini Derivatives.”
Support for XRP. In August, they announced support “for the XRP Ledger and XRP, adding a new blockchain to Gemini’s growing list of supported networks. With the addition of XRP Ledger, Gemini is now compatible with 13 blockchain networks, including: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM), Zcash (ZEC), Filecoin (FIL), Dogecoin (DOGE), and Tezos (XTZ).”