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>>Gemini plans to offer direct Bitcoin trading in Australia, pending registration with AUSTRAC and the integration of Australian dollars.

Gemini plans to offer direct Bitcoin trading in Australia, pending registration with AUSTRAC and the integration of Australian dollars.

crypthub

3 days ago

Gemini’s Australian Expansion

Gemini has officially registered its Australian entity, Gemini Intergalactic Australia, with AUSTRAC, demonstrating compliance with Australian anti-money laundering regulations. This registration marks a significant step in the company's expansion within Australia, recognizing a robust market with approximately 22% crypto ownership. The move allows Gemini to pursue an Australian Financial Services Licence (AFSL) from ASIC to support regulated products.

Direct AUD Trading Now Available

Gemini now enables direct Australian dollar (AUD) trading through integrations with local banking rails, specifically NPP and PayID. This eliminates the prior need for SWIFT transfers to U.S. accounts, allowing Australian users to deposit and trade AUD more quickly and efficiently. James Logan has been appointed as Head of Australia to lead local growth and regulatory engagement.

Regulatory Compliance and Future Plans

The introduction of direct AUD trading and the AUSTRAC registration pave the way for expanded product offerings and a more regulated environment for Australian crypto users. This includes enhanced security, clearer recourse under Australian law, and potential support for wholesale clients through derivatives. Gemini aims to combine liquidity with regulatory rigor to serve both retail and institutional clients.