"Cryptocurrency exchange Gemini has initiated operations in Australia, expanding its digital currency exchange services to meet increasing local demand. The firm aims to offer a platform tailored for Australian users and institutions, enhancing accessibility and regulatory compliance. The expansion represents part of Gemini's broader strategy to strengthen its presence in international markets and cater to regions with growing cryptocurrency adoption."
"Prior to this launch, Australian customers could access Gemini's global platform, but services were managed through the firm's international arm. By creating a local operation, Gemini seeks to optimize services for domestic users and streamline interactions with regulatory authorities. A local presence also allows the company to respond more quickly to market developments and offer support tailored to Australian time zones."
Gemini launched operations in Australia, providing a locally registered platform tailored for Australian retail and institutional users and enhancing accessibility and regulatory compliance. The Australian entity, Gemini Intergalactic Australia, is registered with AUSTRAC as a digital currency provider, enabling legal operation and oversight. AUSTRAC monitoring covers anti-money laundering compliance, customer verification, and suspicious transaction reporting. The expansion follows rising cryptocurrency adoption in Australia, reported at 31% by the Australian Independent Reserve Cryptocurrency Index. A localized team supports institutional relationships, optimizes services compared with the prior international-managed platform, and allows faster responses to market developments and Australian time zones.
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