US-based crypto exchange platform Gemini is deepening its commitment to the Australian market with the establishment of a new locally registered entity, according to Reuters.
This strategic move allows Gemini to integrate with local payment systems and engage more freely in marketing.
Despite the government's recent bill aimed at expanding cryptocurrency oversight, Gemini's Asia-Pacific head, Saad Ahmed, has indicated that the company is taking a "wait-and-see" approach to the pending regulations, focusing first on leveraging the market's significant growth potential.
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Ahmed confirmed the platform is applying for an Australian Financial Services License (AFSL), which is a prerequisite for launching advanced products such as cryptocurrency staking and credit cards in the region.