Gemini launches crypto derivatives exchange outside the U.S.

Gemini, the popular crypto exchange founded by the Winklevoss twins, has announced the launch of a new derivatives exchange outside the United States. The move is part of the company’s efforts to expand its offerings and reach a wider audience.

In fact, on Friday night, Gemini teased the upcoming opening of a crypto derivatives platform that will only be accessible from certain jurisdictions.

Gemini Foundation is a non-US platform […] Our first derivative contract will be a BTC perpetual contract denominated in GUSD. An ETH/GUSD perpetual contract will launch shortly thereafter,” the announcement reads.

The new derivatives exchange will allow traders to access futures, options contracts and other financial instruments based on cryptos. These derivatives will be able to be traded against the US dollar and several other major fiat currencies.

Gemini said the new exchange will be available to traders in countries where it is legally allowed to operate. Gemini Foundation will be available in Hong Kong, India, Argentina, Bahamas, Brazil, Chile, El Salvador, Israel, South Africa, South Korea and Thailand. In Europe, only Switzerland and Turkey have been announced.

The company also stressed that the new exchange will have “institutional level infrastructure and connectivity”, which it said will ensure the stability and reliability of the platform.

Gemini is known for its strict security measures and regulatory compliance. The company has obtained licenses from several regulatory authorities, including the New York State Department of Financial Services (NYDFS) and the Financial Conduct Authority (FCA) in the United Kingdom.

Gemini’s entry into the derivatives market is expected to increase competition in the industry and provide more options for traders. The crypto derivatives market has grown rapidly in recent years, with many exchanges offering futures and options contracts based on bitcoin and other cryptos.