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Gemini plans a Non-US DeFi firm



Gemini has announced its plan to open a firm outside the US. The company will be a crypto derivatives platform. A crypto derivatives platform is a platform that allows traders to trade derivative contracts based on cryptocurrencies. 

There are several types of crypto derivatives that can be traded on a platform, including futures, options, swaps, and perpetual contracts. Popular platforms include BitMEX, Deribit, Binance Futures, and OKEx, which offer a range of trading tools and features.

Our first derivatives contract will be a BTC perpetual contract denominated in Gemini dollars (GUSD). An ETH/GUSD perpetual contract will launch soon thereafter.

Gemini is a cryptocurrency exchange founded in 2014 by the Winklevoss twins, Cameron and Tyler. It is regulated by the New York State Department of Financial Services and offers a range of trading tools and features. 

It also offers a cryptocurrency custody service called Gemini Custody, which is aimed at institutional investors looking to securely store large amounts of cryptocurrency. 

Details of Gemini Foundation 

According to Gemini, Gemini Foundation will enable qualifying consumers to leverage their crypto assets in order to achieve long or short crypto exposure in order to manage risk, produce returns, and obtain directional exposure. “Eligible customers will be able to trade both spot and derivatives products and execute all of their trading strategies within a secure and trusted platform.”

Gemini at the close of 2022 was affected by the collapse of the FTX exchange. It had to suspend its yield-earning program which affected its users. In March, it experienced another challenge. J.P. Morgan Chase was reportedly severing ties with Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, but Gemini denied the report. 

Read also;

The Gemini Earn Agreement: A Ray of Hope for Users

Why SEC charged the crypto firms Gemini and Genesis


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