Gemini has officially launched a localized cryptocurrency exchange in Australia, marking a significant step in its global expansion strategy.
Key Takeaways:
- Gemini Intergalactic Australia Pty Ltd is now registered with AUSTRAC, enabling the exchange to operate legally within the country.
- Australian users can deposit AUD instantly via Osko and the New Payments Platform (NPP), facilitating faster crypto trading.
- Gemini plans to introduce additional features, including a crypto rewards credit card and derivatives trading, to enhance its offerings in the Australian market.
Gemini, the U.S.-based cryptocurrency exchange, has officially announced on its X (formerly Twitter) handle its expansion of its operations into Australia by launching a locally registered entity, Gemini Intergalactic Australia Pty Ltd. The exchange is now registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), the nation’s financial intelligence and anti-money laundering regulator, as a digital currency provider. This expansion means Gemini can legally operate and offer cryptocurrency trading services directly within Australia.
Australians Can Now Trade Crypto Faster with Instant AUD Deposits
The newly launched platform enables Australian users to deposit Australian dollars (AUD) instantly via Osko and the New Payments Platform (NPP), facilitating faster and more efficient trading. Users can now trade over 70 cryptocurrencies using local bank accounts without relying on international transfers. This feature significantly lowers friction for both retail and institutional investors and brings Gemini’s platform on par with other local exchanges in terms of accessibility.
TimesCrypto also reported this milestone on its official X handle, specifically noting Gemini’s Australia expansion as well as the associated benefits.
Australians Crypto Adoption Surges Amid Gemini Launch
The expansion comes as cryptocurrency adoption continues to rise in Australia as reported by Reuters. The report also mentioned that Australian Independent Reserve Cryptocurrency Index report released in February shows that there is approximately 31% crypto adoption rate in the country, reflecting growing public interest in digital assets. Gemini’s Head of Asia Pacific, Saad Ahmed, noted that the company’s launch responds directly to this increasing demand and enables Australian investors to access a trusted platform for trading, investing, and managing their cryptocurrency portfolios.
Gemini Eyes Crypto Credit Carsd and Derivatives for Aussie Market
Looking ahead, Gemini plans to roll out additional offerings in Australia, including a crypto rewards credit card and derivatives trading. These services are aimed at enhancing the user experience and providing Australian investors with a broader suite of tools to manage, grow, and diversify their crypto portfolios. The exchange’s strategic roadmap aligns with its global vision to offer comprehensive crypto investment solutions beyond spot trading.
Gemini Strengthens Global Footprint Following IPO Success
Gemini’s entry into Australia also reflects its broader strategy to expand internationally. The company recently debuted on Nasdaq after raising $425 million in an IPO, signaling strong investor confidence in its growth trajectory. Expanding into Australia allows Gemini to compete more effectively with other international exchanges entering the Asia-Pacific market, positioning it for long-term growth in a region with rising cryptocurrency adoption.
What’s Next
Gemini’s Australian launch underscores the growing demand for reliable and regulated cryptocurrency services in the Asia-Pacific region. By offering localized crypto exchange services and complying with AUSTRAC regulations, Gemini positions itself as a key player in the Australian market. With plans for innovative products such as crypto credit cards and derivatives trading, the company’s expansion is likely to strengthen its global presence and influence in shaping the future of cryptocurrency adoption.
Summary
Gemini launched a locally registered Australian exchange (AUSTRAC-registered), enabling instant AUD deposits via Osko/NPP and signaling plans for a crypto rewards card and derivatives. The move expands its APAC footprint as Australian crypto adoption climbs.
