Gemini Exchange Expands Beyond US Market With New Derivatives Platform

The crypto exchange Gemini has introduced a platform for non-US derivatives to service clients in 29 countries and territories.

Gemini Exchange Expands Beyond US Market With New Derivatives Platform

Gemini has created a new derivatives platform called Gemini Foundation, which is operational in 29 countries outside the US. The platform offers perpetual contracts for Bitcoin with up to 100x leverage using Gemini Dollar (GUSD). The company plans to expand the platform to include Ethereum trading. Additionally, Gemini plans to introduce more perpetual contracts, futures contracts, and options trading in the near future.

The platform offers a reliable, easily accessible, and capital-efficient trading platform for both retail and institutional traders to trade derivatives. However, residents of the United States, United Kingdom, and European Union are not permitted to use the platform. On the other hand, investors residing in select countries in Latin America, Asia, and Africa will have access to it.

Gemini Foundation, a derivatives platform that has been eagerly anticipated outside the United States, began operating on May 1st in all 29 jurisdictions, including countries such as Singapore, Hong Kong, India, Argentina, the Bahamas, Bermuda, the British Virgin Islands (BVI), Bhutan, Brazil, the Cayman Islands, Chile, Egypt, and El Salvador.

This announcement comes in response to regulatory concerns in the United States, which have led to increased regulatory actions against exchanges like Bittrex and Beaxy by the US Securities and Exchange Commission (SEC).

Gemini has expanded to Asia and created a new subsidiary, with plans to establish an engineering base in Gurgaon, India. The newly established team, led by CEO Pravjit Tiwana, will work on creating the next generation of web and mobile user experiences, as well as delivering feature sets for NFT and cryptocurrency marketplaces, which can be used by institutional and retail customers from over 70 countries.

About Gemini

Gemini Exchange is a digital asset exchange and custodian that allows customers to buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and others. The exchange was founded in 2014 by Cameron and Tyler Winklevoss, who are also known for their legal dispute with Mark Zuckerberg over the creation of Facebook. Gemini is headquartered in New York City and is regulated by the New York State Department of Financial Services (NYDFS).

Gemini is known for its focus on security, compliance, and regulatory oversight. It has implemented several security measures such as two-factor authentication, cold storage, and multi-signature technology to protect customer assets. Gemini also follows strict anti-money laundering (AML) and know your customer (KYC) policies to ensure that its platform is not used for illicit activities.

In addition to its exchange services, Gemini also offers a range of institutional-grade custody solutions for institutional investors, hedge funds, and family offices. The exchange has also launched its own stablecoin, the Gemini Dollar (GUSD), which is pegged to the US dollar and is backed by USD deposits held at State Street Bank and Trust Company.

Gemini has expanded its operations to several countries around the world, including Canada, Australia, Singapore, and the United Kingdom. It has also formed partnerships with several other companies, such as Mastercard and Samsung, to offer its customers new payment and trading options.

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