Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is launching a new platform called the Gemini Foundation, which will offer its first derivatives contract exclusively to users outside of the US.
The platform’s first contract will be a BTC perpetual contract denominated in Gemini dollars, with an ETH/GUSD perpetual contract to follow. This move is aimed at allowing eligible customers to leverage their crypto assets to manage risk, generate returns, and gain directional exposure.
Gemini has announced that the platform will be available in several countries, including Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, Brazil, El Salvador, Israel, Nigeria, South Africa, South Korea, Switzerland, Thailand, and Turkey. Gemini’s CEO Tyler Winklevoss has also revealed that the exchange has plans to expand outside of the US, with a new CEO for the Asia-Pacific region and an upcoming office in India.
The launch of the Gemini Foundation comes at a time when US exchanges are increasingly turning their focus to foreign markets due to the complex regulatory environment in the US.
The Gemini Foundation will provide an opportunity for users in eligible countries to gain exposure to cryptocurrencies through a new derivatives platform. Gemini’s move to expand its presence in international markets is expected to create more opportunities for users globally to access and trade cryptocurrencies.
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