The company has promised clients that it will expand its derivatives offering with additional perpetual contracts, dated futures and options in the coming weeks.
Gemini Trust Company LLC owns one of the largest centrally traded crypto exchanges announce Launching its entity outside the United States to serve markets outside the European market and the United Kingdom. According to the announcement, the Gemini Foundation will begin offering retail and institutional investors a perpetual contract of Bitcoin denominated in Gemini Dollars (GUSD) with up to 100x leverage. Subsequently, the company announced that it would disclose a perpetual contract of ETH/GUSD to both retail and institutional investors.
Some of the jurisdictions where Gemini Foundation is available include Egypt, South Africa, Brazil, Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Nigeria, Panama, Peru, Philippines, Switzerland, Thailand, Turkey, Uruguay, Vietnam, and more.
“The Gemini Foundation offers clients a capital-efficient, highly available, and reliable place to trade derivatives. Purpose-built for individuals and institutions alike, the Gemini Foundation combines powerful trading tools with an elegant user experience.”
The company has promised clients that it will expand its derivatives offering with additional perpetual contracts, dated futures and options in the coming weeks.
Gemini flee from the hostile United States
US regulators have yet to unanimously come up with a solid plan to regulate the digital asset industry, on the lines of the European Union, the United Arab Emirates, Hong Kong or Singapore. As a result, local crypto companies including Coinbase Global Inc (NASDAQ:COIN) have chosen to diversify into international markets for the sake of future growth prospects.
Gemini is already under the SEC’s radar for its earnings program that has succumbed to the quagmire of FTX and Alameda Research.
“Last week, Genesis, Digital Currency Group (DCG), Unsecured Creditors Committee (UCC), Creditors Committee and Gemini agreed to start a 30-day mediation process to reach a final resolution as soon as possible,” Gemini noted recently.
As many other global jurisdictions enact crypto-friendly policies, the Gemini exchange with more than 94 thousand bitcoins in its balance felt obligated to flee the US market. Moreover, the company wants to capture a huge share of global cryptocurrency users as adoption ramps up ahead of the next bull market.
Notably, the SEC has charged several cryptocurrency exchanges for apparently providing unregistered securities to US investors. However, the agency has been criticized for green-lighting Coinbase for the IPO and subsequently charging it a fee to do the same work.
“If lawmakers can come together and build a clear framework for crypto companies, that would be a huge boon for the United States,” said Tyler Winklevoss, adding that the company is not leaving the US market but is leaning towards global markets for future growth prospects. .
the next
Let’s talk about cryptocurrencies, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multichain as the future of blockchain technology. Let’s all win!