Gemini Launches Derivatives Platform Outside U.S Amid Regulation Chaos

• Customers can speculate on the price movements of assets without actually owning them.
• The platform allows trading Bitcoin perpetual contracts with up to 100x leverage.

Gemini is expanding outside the United States with the development of a derivatives platform that will service 30 nations and territories. The notable cryptocurrency company established by Tyler and Cameron Winklevoss revealed the intention in late April and made the announcement on Tuesday.

This, adds to a rising trend of U.S.-based cryptocurrency businesses moving their operations overseas. Due to an increasingly unfriendly regulatory climate at home.

The Winklevoss twins stated that they established the Gemini Foundation in Singapore rather than the United States due to the regulatory chaos back home.

The brothers claim that Gemini first submitted an application to the Commodity Futures Trading Commission in early 2020. In order to run a U.S. derivatives exchange, but withdrew it in early 2023. According to Tyler Winklevoss, the regulatory environment in the United States is a “total logjam.”

Offers 100x Leverage

Customers can speculate on the price movements of assets without actually owning them. And without having to lock in a settlement date through the use of perpetual future contracts, a popular form of derivatives trading.

Spot markets, or trading at the present value of assets, are prioritized by exchanges because of the severe restrictions placed on crypto derivatives trading in the United States. Some cryptocurrency exchanges, such as Binance, have a separate U.S. division where derivatives trading is prohibited.

Gemini’s new platform is now available to customers outside the United States, allowing them to trade Bitcoin perpetual contracts with up to 100x leverage. In the next weeks, the company expects to provide Ether perpetuals as well. The service will not be available to traders in the United Kingdom or the European Union.

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