Gemini Announces Plans to Launch a Crypto Platform Outside of U.S.

Gemini, the renowned U.S.-based cryptocurrency exchange, is set to launch an offshore derivatives platform called Gemini Foundation, exclusively catering to users outside the United States.

As regulatory scrutiny in the United States tightens, Gemini, the popular cryptocurrency exchange established by Cameron and Tyler Winklevoss, announced on Friday its plans to launch an offshore derivatives platform. The new business, Gemini Foundation, wants to increase the company’s worldwide market reach by catering only to consumers outside the United States.

The inaugural offering on the Gemini Foundation platform will be a perpetual bitcoin (BTC) contract denominated in Gemini dollars (GUSD), according to the company’s recent blog post. Following the BTC/GUSD perpetual contract, a perpetual ether (ETH) contract linked to GUSD will be introduced. Distinct from conventional derivatives, perpetual contracts do not possess an expiration date, providing traders with more flexibility.

“Gemini Foundation will allow eligible customers to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure.”

The company stated, adding that further information regarding the significance of the name would be provided at a later date.

Gemini’s decision to enter the offshore derivatives market demonstrates the company’s dedication to innovation and diversification in the face of a tough regulatory environment. By extending its services to international users, Gemini is poised to further solidify its position as a global player in the cryptocurrency space.

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