Cryptocurrency Exchange Gemini expands operations in Australia with Austrac registration
Gemini, the Crypto Exchange founded by Cameron and Tyler Winklevoss, announced on Thursday the expansion of its operations in Australia, which gained formal registration of the country’s anti-money laundering regulator, Austrac.
Australian’s arm of Australia Gemini Intergalactic Australia Pty Ltd, is officially registered in Austrac, Australia’s financial intelligence and anti-money laundering regulator, as a digital currency provider. Registration with Austrac is required before offering crypto exchange services in the country.
Gemini is one of the top 20 exchanges of cryptocurrency by volume. The exchange has registered a total trading volume of over $ 126 million in the past 24 hours, according to Data Source Coingecko.
Inserting an exchange in Australia means that locals can trade cryptocurrencies using AUD, one of the G-10 currencies. Australia has quickly emerged as one of the most vibrant crypto markets in the world, according to the Global Gemini Crypto state, found that the country’s crypto -adoption rate has reached 22%, putting it in PAR in the United States.
“In Australia’s fast-growing digital asset market, Gemini doubles our approach to Asia-Pacific growth”, Saad Ahmed, head of APAC in Gemini, said in a press release shared with CoinDesk.
Gemini appointed James Logan as the head of Australia to lead its local operations. Logan brings extensive experience from his previous roles as the country’s manager for Luno in Australia and a role in the Bitget.
“Appointing James as our leader of Australia emphasizes our commitment to developing a safe, transparent, and following ecosystem for both customers and institutional customers,” Ahmed added.
