Initially, the derivatives platform will offer a perpetual contract for BTC that is denominated in Gemini Dollar, and subsequently, it will introduce an ETH/GUSD perpetual contract.
On April 21, Gemini, a crypto exchange based in the United States, revealed its plans to launch a derivatives platform in international markets. This move comes amidst an uncertain and increasingly strict regulatory landscape for cryptocurrency firms within the US.
The newly established offshore division, known as Gemini Foundation, will provide its services to users residing in a wide range of countries such as Singapore, Hong Kong, India, Argentina, and more. However, it will not cater to customers based in the United States.
Gemini’s derivatives platform will commence operations with a perpetual contract for Bitcoin, which will be denominated in Gemini Dollar (GUSD). Soon after, the platform will also introduce a perpetual contract for ETH/GUSD.