Gemini (NASDAQ:GEMI)has expanded its platform to Australia, according to a note from the company. Gemini has registered with AUSTRAC and plans banking integrations to make trading crypto easier for Australians.
Gemini, founded by Tyler and Cameron Winklevoss, has recently become a publicly traded company in the US. As the regulatory environment has improved this year, Gemini, along with other crypto platforms, is poised for growth.
Gemini states that its move into Australia represents a commitment to the Asia-Pacific region. Saad Ahmed, Head of APAC at Gemini, said they are doubling down on the region.
Gemini notes that Australia already has significant crypto-penetration, as it reports a 22% adoption rate, which is approximately the same as that of the US.
To run the Australian subsidiary, Gemini has hired James Logan as Head of Australia.
Logan said the expansion comes at an exciting time for the industry.
“Australians are increasingly turning to trusted platforms to manage their digital assets, and I’m thrilled to lead Gemini’s efforts here and to build a strong presence that will support long-term adoption and innovation”.
Last week, Gemini announced a new office in London as it seeks to boost its market share in Europe as well.
