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Crypto exchange Gemini launches Australian arm to tap growing demand

  • Crypto exchange Gemini has officially launched its Australian operation.
  • The move is a bid to tap into the country’s growing demand for crypto.
  • Australia’s crypto adoption rate has risen to 31 percent as of early 2025.

Fresh off a triumphant public debut on the Nasdaq, the cryptocurrency exchange Gemini is embarking on the next chapter of its global expansion, planting its flag firmly in the fertile and rapidly growing market of Australia.

The move, which will see the firm led by the billionaire twins Tyler and Cameron Winklevoss offer its full suite of digital currency services locally, is a powerful bet on the nation’s burgeoning appetite for digital assets.

A new frontier, a local focus

The new operation, officially named Gemini Intergalactic Australia, marks a significant strategic shift for the company.

While Australian customers were previously able to use Gemini’s platform, they were serviced through the firm’s global arm.

Now, with a formal registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency provider, the company is establishing a dedicated and localized presence.

This is a move driven by clear and compelling market data.

According to a report from the Australian Independent Reserve Cryptocurrency Index, the crypto adoption rate in the country has surged to 31 percent as of early this year, a clear sign of a crypto-savvy population that represents a major market opportunity.

The power of a local presence

For Gemini, the decision to build a local operation is about more than just capturing market share; it’s about building a tailored and optimized experience for Australian users.

The company has already seen promising growth from the region, particularly from its institutional clients.

“We think that there’s enough market opportunity for us to build a local platform,” Saad Ahmed, head of APAC at Gemini, told Reuters on the sidelines of the TOKEN2049 crypto conference.

We have some institutional customers from Australia, and I think that is another area where we’ve seen some growth. So having a team on the ground, building a business which is localised, which is optimised for Australian users… makes sense for us.

The launch is the latest major milestone for the New York City-based company, which successfully raised 425 million dollars in an initial public offering last month.

For the Winklevoss twins’ crypto empire, the move down under is a clear and powerful signal that the era of global expansion has just begun.

The post Crypto exchange Gemini launches Australian arm to tap growing demand appeared first on CoinJournal.

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Polygon price bounces amid major payments upgrade

  • Polygon price eyes gains as the community cheers the Rio upgrade going live on the mainnet.
  • Rio introduces stateless validation, reducing node storage needs and enabling broader participation.
  • The upgrade also mitigates the risk of chain reorganizations with near-instant finality.

Polygon price rose as the Rio hardfork, a major upgrade aimed at redefining global payments on decentralized networks, went live on the mainnet.

 The Polygon Labs team announced the milestone on October 8, 2025, noting in a blog post that the upgrade is the network’s biggest ever.

Speed, near-instant finality, and lightweight nodes are key features that will go live amid the Rio upgrade, which could see Polygon play a major role in web3 payments and real-world asset markets. 

According to the team, Rio empowers developers, enterprises, and users to build and deploy payment solutions with confidence.

Polygon co-founder and CEO of Polygon Foundation Sandeep Nailwal commented via X:

Rio upgrade: what else to know

At the centre of the Rio upgrade lies a suite of meticulously engineered improvements encapsulated in three Polygon Improvement Proposals.

PIP-64 introduces the Validator-Elected Block Producer (VEBloP) model. 

This is a novel architecture where validators collaboratively select a limited pool of block producers to handle extended production cycles.

The aim is to eliminate the inefficiencies of simultaneous block creation by multiple validators, which is key to network throughput.

Complementing VEBloP, PIP-65 refines the economic incentives by redistributing transaction fees and maximum extractable value.

This ensures that even participants operating modest hardware can reap proportional rewards, fostering a more inclusive validator ecosystem. 

On the other hand,PIP-72 pioneers witness-based stateless validation, a groundbreaking feature that allows nodes to verify blocks using compact cryptographic proofs rather than maintaining exhaustive state data. 

These enhancements deliver near-instant finality, where blocks are treated as immutable upon validation.

It’s an update that mitigates the risks of transaction reversals or reorganisations that can significantly impact a network. 

With changes to underlying block production and validation, it’s now easier and lower-cost than ever to participate in the network.

Rio enables 5k TPS on the network and makes nodes lightweight, slashing the cost of compute.

By removing the risk of reorgs, Rio provides a step function improvement in the reliability of finality. 

What does this mean for POL?

POL, formerly MATIC, is Polygon’s native token.

Its value has recently fluctuated largely lower since hitting highs of $0.71 in December 2024.

However, bulls have ticked up by about 5% in the past week and POL traded 3% up in the past 24 hours with its price near $0.24.

In terms of what the Rio upgrade means for the ecosystem, the potential impact extends beyond technical prowess.

Polygon now encompasses a network that is for both builders and end-users.

Developers now face significantly reduced barriers to entry, with lightweight nodes requiring minimal compute and storage resources.

That means better integration experiences for agentic payment systems among others.

Beyond NFTs, there’s a rapidly expanding market across real-world assets and cross-border payments.

Rio not only elevates Polygon but also accelerates the mainstream adoption of web3 payments.

Polygon token’s price could ride tailwinds around these developments as bulls target gains.

The post Polygon price bounces amid major payments upgrade appeared first on CoinJournal.