Key Takeaways
- Gemini expands operations to Australia with a local entity registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), the country’s financial intelligence agency.
- Australian users gain instant AUD deposits through Osko and NPP, eliminating international transfer fees.
- James Logan, previously with Luno, will lead the Australian operations and serve as Country Head.
Table of Contents
A Strategic Entry into a Crypto-Adopting Market
Gemini expands operations to Australia with full local banking integration, allowing Australian customers to deposit Australian Dollars (AUD) in real time using Osko and the New Payments Platform (NPP) with no international transfers. The extension targets a market where 32% of the population already owns a digital asset, which is consistent with adoption rates in the United States.
This strategic entry officially launched its Australian expansion, establishing a local entity and securing registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s financial intelligence and anti-money laundering regulator.
Read also: Crypto Pension: Coinbase, OKX Target Australia’s Massive $2.8T Retirements Pot
Developing Confidence in a Changing Regulatory Environment
Crypto exchange Gemini expands operations to Australia, matching the impending regulation requiring digital asset platforms to obtain an Australian Financial Services License. By establishing Gemini Intergalactic Australia as a local entity, the exchange positions itself to be compliant in a market rapidly moving towards regulation. The firm has also hired James Logan, ex-Luno and Bitget, as Head of Australia to lead local strategy and partnerships during this critical growth phase.
Read also: Bitcoin-backed Mortgages in Australia Launched by Block Earner
Positioning for Long-Term Regional Growth
While Gemini expands operations to Australia, the exchange and its users expect this to be more than just market entry, but a commitment to building trust and transparency in the Asia Pacific region. With access to trading pairs in AUD and both retail and institutional clients, Gemini is working towards capturing market share by leveraging its regulatory strength and brand equity. The expansion can serve as a model for crypto exchanges looking for sustainable growth in maturing markets that are dealing with evolving regulations.
FAQs
What banking features are available to Australian Gemini Exchange users?
Australians can now deposit AUD instantly through Osko and NPP, avoiding international transfer fees and delays.
Who is leading Gemini’s Australian operations?
Gemini expands operations to Australia, launching local banking services with new leadership of James Logan, previously Country Manager for Luno Australia, as Head of Australia.
How does this fit with Australia’s regulatory changes?
Gemini has registered with AUSTRAC and is applying for an Australian Financial Services License to comply with upcoming regulations.
For more Gemini-related stories, read: Gemini’s XRP Credit Card Launches: Earn 4% Crypto Back on Everyday Spending
