Gemini To Launch Derivatives Platform Serving 30 Countries
Gemini, a cryptocurrency exchange, stated earlier today that it intends to build Gemini Foundation, a crypto derivatives platform situated outside the US. Gemini announced its crypto derivatives platform for international consumers. The move follows speculations of Coinbase establishing a similar platform in Bermuda amid a growing regulatory crackdown by US officials. Gemini is following in the footsteps of competitor cryptocurrency exchange.
According to a blog post from the Winklevoss brothers’ crypto exchange, the Gemini Foundation’s first product will be a BTC perpetual contract denominated in the GUSD stablecoin. After that, the crypto derivatives platform will introduce an ETH/GUSD perpetual contract. The derivatives offers are expected to grow in the coming months. Incidentally, this is not the first time a crypto firm domiciled in the United States has made headlines in the derivatives market. The market first became aware of its impending debut last month. Customers from 30 countries will also be able to use the services.
Source
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