- Gemini will launch its crypto derivatives trading platform named Gemini Foundation.
- The derivatives platform will be available to selected countries — US customers are excluded.
- Customers will be able to trade in both spot and crypto derivatives.
Crypto exchange Gemini announced the upcoming launch of Gemini Foundation, a crypto derivatives trading platform that will become available to customers outside the US.
Read CRYPTONEWSLAND on
google news
According to the exchange’s official announcement, Gemini Foundation will cater to customers and they will be able to trade on both spot and derivatives markets. The crypto derivatives platform will also debut with a bitcoin (BTC) derivatives contract, to be followed by an ether (ETH) perpetual contract.
The primary crypto token used for the platform will be Gemini’s own US dollar-pegged stablecoin GUSD. Customers will be able to convert their US dollars and Circle USD (USDC) into GUSD on a 1:1 basis once the platform has launched.
As said above, Gemini Foundation will not be available to American customers. Instead, the derivatives platform will open its doors to customers in Singapore, Hong Kong, India, Switzerland, South Korea, and many other countries in Central and South America and Asia.
Gemini did not explain the reason for using the word foundation in naming its derivatives trading portal. Also, the announcement did not specify a target date for the launch. However, the team is already encouraging interested customers to sign up for the platform once it launches.
At the moment, Gemini remains to be headquartered in New York. However, the US’ stringent regulatory policy may have prompted the exchange to expand its services overseas, including its upcoming derivatives trading platform.
Read Also :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
