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Gemini launches Australian arm to expand crypto exchange services

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Gemini, the New York-based cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has launched its Australian division, marking a major expansion into one of the world’s fastest-growing crypto markets.

The new entity, Gemini Intergalactic Australia, will operate locally after securing registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency provider. Previously, Australian users accessed Gemini’s global platform remotely.

“We think there’s enough market opportunity for us to build a local platform,” said Saad Ahmed, Gemini’s head of APAC, during the TOKEN2049 crypto conference in Singapore. He noted that growing institutional demand and a need for localized services make Australia a key market for Gemini’s Asia-Pacific strategy.

Crypto adoption in Australia has climbed to 31% this year, up from 28% in 2023, according to the Independent Reserve Cryptocurrency Index. The launch comes as global exchanges compete for regulatory footholds and investor trust amid renewed optimism in the digital asset sector.

Gemini, which went public on Nasdaq last month after raising $425 million, aims to provide a secure and compliant exchange tailored for Australian users.

India’s upGrad targets Asia growth as U.S. student demand declines

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Indian edtech startup upGrad is accelerating plans to partner with more universities in the Middle East and Asia-Pacific as fewer students choose the United States and the UK due to visa restrictions and rising costs, a senior executive told Reuters.

Founded by film producer Ronnie Screwvala and backed by Singapore’s Temasek, upGrad currently works with about 80 universities across 10 countries to deliver online MBAs and executive education programs. The company generates revenue by enrolling students in digital courses and facilitating transfers to overseas campuses to finish their degrees.

“Some of the top U.S. and UK schools have opened campuses in Dubai, Malaysia and Singapore. We are going in that direction too because geopolitical factors are restricting enrollment in the U.S. and UK,” said Praneet Singh, associate vice president for upGrad’s Study Abroad division. He highlighted expansion efforts in Japan, Singapore, Malaysia, and the broader Middle East and APAC region, without disclosing investment figures.

The strategy shift comes as applications to U.S. universities decline following policy changes under the Trump administration, which tightened student visa rules and even scrutinized applicants’ social media presence. According to upGrad, the share of Indian students choosing the U.S. dropped from 60% to 47% between fiscal 2024 and 2025, with more opting for affordable destinations closer to home.

Singh noted that universities such as Johns Hopkins, Carnegie Mellon, Birmingham, and Middlesex—some with campuses in Dubai or Doha—are part of upGrad’s expansion discussions, alongside institutions in Vietnam, Bangladesh, Nepal, and Sri Lanka. While the U.S. has traditionally been the top choice for Indian students, factors like visa hurdles and weaker job prospects are reshaping preferences. Singh added that this trend has continued into the current year.