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Gemini crypto platform has announced the official opening of its Australian branch. The new unit, called Gemini Intergalactic Australia, has successfully passed the registration procedure with AUSTRAC, the Australian body responsible for overseeing compliance with legislation in the field of combating money laundering and terrorist financing.

Representatives of the exchange explain their decision by the good prospects that open up in the Australian market. Saad Ahmed, Gemini's Asia-Pacific chief, told Reuters at the TOKEN2049 conference in Singapore that increasing their activity in this part of the world is a logical response to the growing interest. Having a local team makes it possible not only to adapt services to the needs of Australian users, but also to interact more effectively with institutional investors, whose interest in crypto continues to grow.

An analysis of the figures shows the great potential of this area. According to the Australian Independent Reserve's Cryptocurrency Index, by the beginning of this year, almost a third of Australians (31%) were already using cryptocurrencies, which is 3% more than last year. This dynamic makes Australia an attractive place for international crypto platforms to grow.

The opening of Gemini's Australian branch is more than just an entry into a new market. This is an important step in global competition, where winning requires not only cool technology, but also a good knowledge of local peculiarities and full compliance with all regulatory requirements.