Breaking: Gemini launches international crypto derivatives platform

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Gemini enters the derivatives market with the launch of BTC/GUSD perpetual contracts The new product is available to clients in 30 countries and the company plans to expand this presence

US-based crypto exchanges have made headlines for their declared interest in the derivatives side of the crypto market. And, Gemini has officially confirmed its interest by launching a derivatives exchange for overseas clients. The exchange unveiled its new trading platform earlier today on its official social media platform.

He dubbed his derivatives exchange as the Gemini Foundation. Additionally, this platform will offer trading in Bitcoin (BTC) perpetual contracts, paired with the Gemini Dollar (GUSD). It will expand support for the second largest cryptocurrency Ethereum (ETH), which will also be paired with GUSD, in the near future.

Gemini leads the race to launch a derivatives exchange

Notably, this isn’t the first time a US-based crypto entity has taken center stage in the derivatives market. Reports of this impending launch first circulated in the market last month.

Additionally, the services will be available to customers from 30 countries. This includes India, South Korea, Switzerland, Thailand, Hong Kong, Singapore, Bahamas and Israel. Additionally, eligible clients in these regions will have access to both cash exchanges and derivatives markets.

Gemini also stressed that the services will not be available to customers in the United States, its home base. The message comes as the United States has banned the participation of American traders in the derivatives market. This is mainly due to the fact that crypto perpetual contracts have no expiration date and their leverage size is usually high.

A blog post on the announcement read,

Gemini Foundation will provide its clients with a capital efficient, highly available and reliable venue to trade derivatives. Specifically designed for individuals and institutions, Gemini Foundation combines powerful trading tools with an elegant user experience.

Subsequently, Coinbase, another top crypto exchange, has repeatedly made headlines for its interest in the derivatives market. A recent report said the US-based crypto firm may launch an overseas derivatives exchange as early as next week. Later reports claimed that the exchange was already in talks with its institutional investors and market makers about the matter.

With Gemini’s entry into the market, it positions itself as a direct competitor to Binance, the world’s largest crypto exchange by market capitalization. The exchange has only ruled the market for the past two months, following the bankruptcy of its previous competitor FTX in November 2022.

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