Gemini launches Australian arm to expand crypto exchange services
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.