Winklevoss twins’ crypto exchange launches in Australia
The crypto exchange founded by American tech entrepreneurs and twins Cameron and Tyler Winklevoss is promising to work closely with regulators as it expands its presence in Australia.
Gemini has appointed crypto executive James Logan as its Sydney-based country head, registered as a digital currency provider with regulator AUSTRAC, and added a local banking partner that allows them to accept instant money transfers using Australian money transfers. New Payment Platform.
“Obviously I’m very excited to come on board as Gemini’s head of Australia,” Mr Logan told AAP.
“There are a lot of plans here, obviously a lot of work, six to eight months of work, that went into the planning.”
Gemini plans to grow its Sydney-based team and add roles in compliance, marketing and growth in the future; “So we can get a deep understanding of what we need to build from Australian consumers and understand it on the ground,” said Saad Ahmed, Gemini’s Singapore-based head of Asia-Pacific.
Gemini serves customers in more than 60 countries and has facilitated over US$200 billion ($303 billion) in transaction volume.
Mr. Ahmed said Gemini has a culture of regulatory compliance and welcomes the new crypto rules developed by the Albanian government.
“We welcome the regulation and I think we’re very confident that whatever the regulation is, whether it’s compliance-related, whether it’s governance-related, whether it’s risk-related, we can use our existing methodologies, our processes, our workflows and bring that to Australia to be compliant with whatever the regulations are here,” he said.
Mr. Logan echoed this sentiment, saying the new rules would be positive for the crypto industry.
“With the new regime coming, I think consumers will have more confidence in this area once there is official regulatory oversight,” he said.
“I think the banking industry will probably have a similar response, which will be a good thing for the industry overall.”
Some crypto exchanges have had trouble finding a local banking partner; Binance Australia specifically lost the ability to offer Australian dollar bank transfers in 2023 after payment provider Cuscal withdrew its services.
Gemini was holding an official launch party at Sydney’s Royal Botanic Gardens on Thursday night.
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