Cryptocurrency exchange Gemini has announced the launch of the Gemini Foundation, a crypto derivatives platform that is not US-focused.
It will be available to residents of Singapore, Hong Kong, India, Argentina, Peru, Philippines, Switzerland and other countries. Initially, users will be able to trade BTC perpetual contract in GUSD, with the possibility of adding ETH/GUSD in the future.
Leverage will range from 1:20 to 1:100, while fees will be charged in GUSD. Moreover, clients will be able to convert USDC and US dollars to GUSD at a 1:1 ratio and vice versa without commissions.
The team has opened a waiting list for trading. Gemini explained that the Foundation will enable clients “to manage risk and generate returns.”
In March, the exchange announced plans to launch a crypto derivative platform for the international market. It also revealed that it would register a new service outside of the United States, and the exchange’s second-largest engineering center after the United States would be located in India.
