The company has promised its customers that it will expand its derivatives offering with additional perpetual contracts, dated futures and options in the coming weeks.
Gemini Trust Company LLC, one of the top trading centralized crypto exchanges announced Launch of its non-United States unit to serve the European market and markets outside the United Kingdom. As per the announcement, Gemini Foundation will start offering to individual and institutional investors Bitcoin Perpetual contracts with 100x leverage in the Gemini Dollar (GUSD). Later, the company announced that it would introduce an N ETH/GUSD perpetual contract for both retail and institutional investors.
Some of the Gemini Foundation’s jurisdictions include Egypt, South Africa, Brazil, Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Nigeria, Panama, Peru, Philippines, Switzerland, Thailand. , Türkiye, Uruguay, and Vietnam, among others.
“Gemini Foundation provides clients with a capital-efficient, highly available and reliable venue to trade derivatives. Purpose-built for both individuals and institutions, Gemini Foundation combines powerful trading tools with a great user experience,” the company said.
The company has promised its customers that it will expand its derivatives offering with additional perpetual contracts, dated futures and options in the coming weeks.
gemini escape hostile usa
Similar to the European Union, the UAE, Hong Kong or Singapore, regulators in the United States have yet to unanimously come up with a concrete plan to regulate the digital asset industry. As a result, including local crypto companies Coinbase Global Inc (NASDAQ: COIN) has chosen to diversify into international markets for its future growth potential.
Gemini is already under the radar of the United States Securities and Exchange Commission (seconds) for its Earn program that succumbed to the FTX and Alameda Research quagmire.
“Last week, Genesis, Digital Currency Group (DCG), Unsecured Creditors Committee (UCC), Creditor Committee, and Gemini agreed to begin a 30-day arbitration process to drive for a final resolution as soon as possible,” Gemini recently noted.
As many other global jurisdictions implement crypto-friendly policies, the Gemini exchange felt compelled to flee the United States market with over 94k bitcoins in its balance. Furthermore, the company is looking to acquire a larger share of global crypto users as adoption goes mainstream before the next bull market.
Specifically, the SEC has accused several crypto exchanges of apparently providing unregistered securities to United States investors. Still, the agency has been slammed for issuing Coinbase with the green light to go public and later charging it for doing the same business.
“If lawmakers can come together and create a clear framework for crypto companies, it would be a huge boon for America,” tyler winklevoss Said that the company is not leaving the United States market but is leaning towards global markets for future growth prospects.
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