Cryptocurrency

Gemini launches derivative platform in 30 countries

Gemini has launched a non-U.S. derivatives platform, the Gemini Foundation, in 30 countries, according to a May 2 statement.

Exchange Said The new platform will start trading in currency-denominated Bitcoin (BTC) perpetual contracts. gemini dollar (GUSD) Leverage up to 100x. We plan to start trading Ethereum (ETH) soon.

“In the coming months, we will expand our derivatives offerings by adding perpetual contracts, dated futures, and options trading.

The exchange explicitly stated that the platform is not available to customers in the US, UK or European Union.

Meanwhile, the platform will be available to cryptocurrency investors in select countries in Latin America, Asia and Africa, including Singapore, Hong Kong, India, Argentina, Bahamas, Nigeria, Egypt and South Africa.

The platform is available to both institutional and retail traders.

“The Gemini Foundation provides our clients with a capital efficient, highly available and reliable derivatives trading venue. [It is] It is dedicated to both individuals and institutions. “

US Regulatory Issues Pushing Exchanges Abroad

The exchange’s pivot follows in the footsteps of recent regulatory troubles in the US. U.S. stock exchanges have recently stepped up their regulatory actions, filing lawsuits against exchanges such as Bittrex and Beaxy.

Financial regulators have also accused Gemini over the discontinued Earn program.

Meanwhile, Gemini’s announcement comes after Coinbase launches its international exchange. Coinbase said today that the platform is aimed at institutional investors outside the United States.

Gemini Acquisition Update

April 30th, Gemini Said To initiate a 30-day arbitration process toward a final resolution with crypto lender Genesis, Digital Currency Group (DCG), Unsecured Creditors Committee (UCC), and Creditors Committee Agreed.

The crypto exchange said it “supports arbitration” and is working with the parties to resolve the matter. However, Gemini expressed his dissatisfaction with the pace of progress.

A post about Gemini launching a derivatives platform in 30 countries first appeared on CryptoSlate.

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