Gemini, the prominent cryptocurrency exchange founded by the Winklevoss twins, has taken a significant step by expanding its operations into Australia. On Thursday, the company announced that it has secured formal registration with AUSTRAC, the country’s anti-money laundering regulator, allowing it to provide cryptocurrency exchange services in the region. This marks a pivotal move for the exchange, which is ranked among the top 20 in the world based on trading volume, boasting over $126 million in trades within the last 24 hours.
Australia has quickly become a key player in the global cryptocurrency landscape, with a local adoption rate of 22%, mirroring that of the United States according to Gemini’s Global State of Crypto Report 2025. Residents can now trade cryptocurrencies using Australian dollars, one of the G-10 currencies, enhancing the accessibility of digital assets for local investors.
“With Australia’s rapidly growing digital asset market, Gemini is doubling down on our Asia-Pacific growth strategy,” said Saad Ahmed, head of APAC at Gemini. To spearhead its Australian operations, Gemini has appointed James Logan as the Head of Australia. Logan brings a wealth of experience from his previous roles at other crypto firms, underscoring Gemini’s commitment to fostering a safe and transparent ecosystem for all users, both retail and institutional.
“Appointing James as our Head of Australia underscores our commitment to building a safe, transparent, and compliant ecosystem for both retail and institutional customers,” Ahmed added.
Gemini Expands Operations in Australia
Key points regarding Gemini’s expansion and its potential impact:
- Official Registration: Gemini Intergalactic Australia Pty Ltd has secured formal registration with AUSTRAC, allowing it to legally operate in Australia.
- Importance of Compliance: Registration with AUSTRAC is essential for offering crypto exchange services, ensuring compliance with anti-money laundering regulations.
- Trading Volume: Gemini ranks among the top 20 cryptocurrency exchanges, with a trading volume exceeding $126 million in the last 24 hours.
- Local Currency Trading: Australian users can trade cryptocurrencies using AUD, facilitating easier access to digital asset markets.
- Growing Market: Australia’s crypto adoption rate stands at 22%, indicating a significant and rapidly expanding market akin to the United States.
- Strategic Growth: Gemini is enhancing its Asia-Pacific growth strategy amidst Australia’s increasing digital asset market.
- Leadership Appointment: James Logan has been appointed as Head of Australia, leveraging his extensive experience in the crypto sector to strengthen local operations.
“Appointing James as our Head of Australia underscores our commitment to building a safe, transparent, and compliant ecosystem for both retail and institutional customers.” – Saad Ahmed, Head of APAC at Gemini
Gemini Expands into Australia: A Look at Market Dynamics
The recent announcement of Gemini’s expansion into Australia marks a significant move in the competitive landscape of cryptocurrency exchanges. With formal registration from AUSTRAC, the exchange is now positioned as a legitimate player in a rapidly evolving market, which benefits from a burgeoning adoption rate of 22% among local users. This expansion could provide Gemini with a competitive edge, particularly as Australia is increasingly recognized as a vibrant hub for digital asset trading.
In comparison, other exchanges like Binance and CoinSpot have established footprints in Australia, which may pose challenges for Gemini. Binance has a diverse range of offerings and a strong global brand presence, while CoinSpot has localized its services and garnered trust among Australian users for its compliance with local regulations. While Gemini’s commitment to safety and transparency is commendable, it will need to effectively communicate these advantages to distinguish itself in a crowded market.
The appointment of James Logan, with his experience at Luno and Bitget, is a strategic advantage for Gemini. His understanding of the local market dynamics and customer needs could enhance Gemini’s outreach to both retail and institutional clients. However, the reliance on a single leadership figure can also create vulnerabilities, particularly if market conditions change or if consumer sentiment shifts dramatically.
For local traders, the entry of Gemini into the Australian crypto market can foster healthy competition, potentially leading to better trading options and improved customer service. However, it could pose difficulties for existing players, especially smaller exchanges that may struggle to compete with Gemini’s resources and the advantages of being part of a larger parent company.
Overall, while Gemini’s expansion could benefit a wider audience looking for reliable and compliant crypto services, it also raises the stakes for both new entrants and incumbents in the Australian cryptocurrency landscape.
