Gemini Foundation to be launched as a crypto derivatives platform outside the US
Amidst a strict and uncertain crypto regulatory policy in the United States, the crypto exchange will launch the Gemini Foundation outside the country
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Crypto exchange Gemini has announced the release of its new crypto derivatives platform, The Gemini Foundation. However, its location would not be based in the United States.
The platform would be launched outside the United States as the firm took the decision after considering the current state of uncertain regulations in the country. The Gemini Foundation has mentioned a Bitcoin perpetual contract in Gemini Dollars as their first derivatives contract. Eventually, an ETH/GUSD perpetual contract will likely be released.
As mentioned in their blog post, the Gemini Foundation would enable their users to earn returns, manage risk and get directional exposure through long and short exposure of their crypto by leveraging their crypto assets.
Describing the platform as trusted and secure, the Gemini Foundation would also have spot and derivatives products available for customers who are eligible.
The post specifically said, "Gemini Foundation will be available to customers in the following areas: Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Brazil, Cayman Islands, Chile, Egypt, El Salvador, Guernsey, Israel, Jersey, New Zealand, Nigeria, Panama, Peru, Philippines, Saint Lucia, Saint Vincent & Grenadine, South Africa, South Korea, Switzerland, Thailand, Turkey, Uruguay, and Vietnam. Gemini Foundation will not be available to customers in the United States of America."
