Key Takeaways
- Gemini establishes a formal presence in Australia with AUSTRAC registration for its cryptocurrency exchange platform.
- Australian customers can now seamlessly trade digital currencies with the Australian dollar (AUD) through established local payment systems.
- James Logan, a seasoned professional from Luno and Bitget, has been appointed as the Head of Australia.
- The exchange aims to acquire an Australian Financial Services License to provide staking services and crypto credit card options.
- Cryptocurrency adoption in Australia is strong, reaching 22%, on par with the United States.
Leading cryptocurrency exchange, Gemini, has taken a significant step by registering a local entity with AUSTRAC, the Australian regulatory body overseeing anti-money laundering and financial intelligence. This pivotal move unlocks the potential for Australian users to engage in seamless cryptocurrency trading using Australian dollars for the very first time.
The exchange, spearheaded by the Winklevoss twins, announced the registration of “Gemini Intergalactic Australia Pty Ltd” on Thursday. This crucial registration is a mandatory prerequisite for any entity intending to deliver cryptocurrency exchange services within the Australian financial landscape.
Previously, Gemini operated in Australia via its global platform since August 2019. However, this arrangement imposed limitations on asset selection and led to higher payment costs for Australian users.
The new local registration completely overhauls this structure, providing Australians with direct access to local payment channels and allowing for trading in AUD directly on the platform.
Australia’s Thriving Cryptocurrency Market
Australia is quickly becoming a prominent hub within the global cryptocurrency ecosystem. Gemini’s “Global State of Crypto Report 2025” indicates that the country’s cryptocurrency adoption rate has reached an impressive 22%.
This adoption rate is equivalent to that of the United States, signaling considerable “headroom for growth,” according to Gemini. Saad Ahmed, Gemini’s head of Asia Pacific, pointed out that crypto use in Australia is estimated to be between 23% and 25%.
The exchange is recognized as one of the top 20 cryptocurrency platforms globally, based on trading volume. Data from Coingecko reveals that Gemini handled over $126 million in trades within the last 24 hours.
New Leadership Team and Sydney Headquarters
Gemini has appointed James Logan to the position of Head of Australia to oversee local operational activities. Logan’s prior experience includes serving as Country Manager for Luno Australia and holding a position at the Bitget exchange.
The company plans to establish its Australian headquarters in Sydney. Ahmed confirmed that Gemini is assembling a specialized local team to facilitate the expansion initiative.
Establishing a registered local entity removes prior legal constraints regarding promotional activities. Additionally, it enables the exchange to more effectively integrate with local financial services.
Seeking Additional Regulatory Approvals
Gemini is actively pursuing an Australian Financial Services License (AFSL). This license would allow the exchange to extend crypto staking services and cryptocurrency-linked credit cards to its Australian clientele.
Ahmed emphasized that these additional products will not be introduced immediately. The exchange must first successfully complete the AFSL application process.
The AFSL requirement is encompassed within the draft legislation introduced by the Albanese government in the previous month. These proposed laws aim to strengthen the regulatory framework governing cryptocurrency exchanges operating within Australia.
Regulatory Strategy
The Winklevoss brothers have a reputation for being proactively engaged in policy debates surrounding the crypto sphere in the United States. However, Gemini’s Australian branch intends to adopt a different strategy.
Ahmed indicated that the exchange will primarily observe the government’s consultation process, rather than actively lobbying. This consultation aims to modernize Australia’s overall cryptocurrency regulatory structure.
The draft legislation mandates that all crypto exchanges must obtain an AFSL. The local crypto industry has generally welcomed the enhanced regulatory clarity with cautious support.
Gemini currently provides trading access to a specific set of crypto assets in Australia. The exchange intends to broaden its product offerings upon acquiring the necessary licenses and completing its local infrastructure expansion.