Crypto exchange Gemini has launched a fully localized operation in Australia, marking its latest move to expand across the Asia-Pacific region amid rising regional demand for digital assets.
Key Takeaways:
Gemini has established a fully localized operation in Australia after securing registration. Australia’s national crypto adoption rate has reached 31%, up from 28% last year. The move follows Gemini’s $425 million Nasdaq debut, as the company accelerates global growth.The New York-based company announced Thursday that its new entity, Gemini Intergalactic Australia, is now registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to operate as a licensed digital currency exchange.
“We think there’s enough market opportunity for us to build a local platform,” said Saad Ahmed, Gemini’s head of APAC, during TOKEN2049 in Singapore, according to Reuters.
Australia’s Crypto Adoption Climbs to 31%, Up From 28% Last Year
The move comes as cryptocurrency adoption in Australia accelerates. According to the Australian Independent Reserve Cryptocurrency Index, the national adoption rate climbed to 31% this year, up from 28% in 2024.
Gemini, founded by Tyler and Cameron Winklevoss, said the new platform will better serve both retail and institutional clients, adding that it has already seen growing demand from Australian institutions seeking regulated access to crypto markets.
“Having a team on the ground, building a business that’s localized and optimized for Australian users, makes sense for us,” Ahmed added.
The launch follows Gemini’s Nasdaq debut last month, after raising $425 million in an initial public offering, marking one of the year’s largest listings in the digital asset sector.
Until now, Australian users had accessed Gemini’s services through its global arm.
Last month, Gemini Space Station’s initial public offering pulled in $425 million, marking one of the strongest debuts for a digital asset platform in recent memory.
The New York-based firm, founded by Cameron and Tyler Winklevoss, priced 15.2 million shares at $28 each, above its earlier guidance of $24 to $26.
The final pricing reflected robust investor demand even after Gemini lifted its proposed range from $17 to $19.
The Winklevoss brothers, who founded Gemini in 2014 as a regulated US crypto exchange, owned nearly the entire company before the sale.
Filings show they will retain about 94.5% of voting power after the IPO, ensuring tight control even as the company becomes publicly traded.
Australia Grants Licensing Relief for Stablecoin Distributors Until 2028
Last month, Australia’s securities regulator, ASIC, introduced temporary class relief for intermediaries distributing stablecoins issued by licensed Australian Financial Services (AFS) providers, allowing them to operate without additional licensing until June 2028.
The measure removes the need for separate market, clearing, or settlement licenses when handling stablecoins from approved issuers, aiming to ease compliance barriers and support stablecoin adoption.
The first issuer to benefit is Catena Digital Pty Ltd, which launched the AUDM stablecoin, though ASIC plans to extend the relief to other licensed issuers.
As reported, ASIC has taken down over 14,000 scam and phishing websites since July 2023, with crypto-related fraud accounting for 20% of the removals.
The agency now targets 130 new malicious sites each week, including deceptive social media ads and AI-powered schemes promising passive crypto income.
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