US Crypto Exchange Launches XRP Derivatives in Europe

Gemini has added XRP perpetual contracts to its European derivatives platform, which is the first time the American exchange has offered leveraged XRP products to EU-based users through its Malta-registered entity.

The new listing lets traders go long or short on XRP with up to 100x leverage, settled in USDC and with no fixed expiration dates. Gemini Intergalactic EU Artemis, Ltd., is the one selling the products, and they are authorized by the Malta Financial Services Authority (MFSA). 

The company said that there are geographic and availability restrictions, and risk disclosures say that these instruments are high-volatility derivatives that are not suitable for all investors.

XRP joins the growing list of Gemini’s supported cryptocurrencies, which already includes Bitcoin, Ethereum and Solana perpetuals that were launched for the region.

Futures on XRP

For those not familiar, perpetual contracts, which are different from standard futures, do not expire monthly. This means that traders can keep their positions as long as they meet the margin requirements. If they do not, however, they usually get liquidated, and after extreme cascades, the market usually gets filled with headlines about how hundreds of millions or even billions of dollars were lost by traders.

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For Gemini, the rollout is part of its expansion of regulated derivatives offerings within European markets that already support USDC-denominated settlements, and in this light, the choice of new listing is understandable without explanation.

XRP is still one of the most-traded digital assets worldwide, with a 10-year track record of trading, commanding $13.18 billion in derivatives volume and $3.35 billion in open interest, according to CoinGlass.