Gemini Launches Crypto Derivatives Platform Abroad.
- Gemini The company has made plans to create a derivatives platform for cryptocurrencies outside of the United States.
- The The new platform will offer BTC contracts as well as other assets to be traded in the spot market.
- The The offshore exchange is a part of Gemini’s efforts to expand their global presence.
Gemini Winklevoss-owned American crypto exchange is launching a derivatives platform for cryptocurrencies outside of the United States. The Offshore platform will allow traders from over 25 countries to access derivatives and spot products with up to 100x leverage.
In A blog post shared by Gemini The new derivatives platform will be called the Gemini Foundation. The platform’s first product will be a BTC perpetual contract denominated in Gemini’s GUSD stablecoin. After launching the product, the Gemini Foundation is planning to introduce an ETH/GUSD permanency contract.
The Gemini Foundation Customers from over 25 countries will be able to access the product including Bermuda, Singapore, India, Hong Kong, Thailand and Switzerland. However, Customers in the United States The new offshore derivatives platform will not be available to them.
The GUSD stablecoin is the currency which will be used as the Gemini Foundation’s primary token. To fund their account, customers must convert their USD or USDC into GUSD at a ratio of 1:1. All payments for perpetual funding will be done in GUSD. The fees on the platform as well as the P&L will be denoted in Gemini’s stablecoin.
The Offshore crypto derivatives exchange is part of Gemini’s effort to increase its global presence. Gemini The crypto firm, among others, is seeking to expand beyond the U.S. United States due to the unfriendly stance of some American Regulators, including the Securities Exchange Commission (SEC). Gemini Recently, a new Engineering Hub in India The company also appointed a new CEO. Asia Pacific region.
The Blog post by Gemini Launches Crypto Derivatives Platform Abroad was first published on Coin Edition.
See Original on CoinEdition