Gemini, the renowned cryptocurrency exchange founded by the Winklevoss twins in the US, is reportedly gearing up to launch a cutting-edge global platform for trading cryptocurrency derivatives. As per a recent report by The Information, the exchange is looking to expand its offerings and cater to the growing demand for crypto derivatives trading. This move is expected to solidify further Gemini’s position as a leading player in the crypto space and attract a wider range of investors looking to diversify their portfolios. Stay tuned for more updates on this exciting development.
Gemini’s proposed platform is designed to cater to perpetual futures, a derivative that is not available to retail traders in the US due to its high-risk nature and absence of an expiration date. This specialized platform is expected to offer high leverage, making it a product that requires careful consideration and expertise.
Gemini’s announcement of their upcoming launch of an international cryptocurrency derivatives exchange is timely, given the recent events in the crypto exchange industry. The bankruptcy of FTX in November and the lawsuit filed by the CFTC against Binance for violating US derivatives law have created a void in the market, leaving a significant market share available for the taking. Gemini’s move to fill this gap is strategic, and it will be interesting to see how they position itself in this competitive landscape.
According to Bloomberg, Coinbase, a prominent American cryptocurrency exchange, is exploring the possibility of launching a perpetual futures platform in foreign markets.
Coinbase is currently facing its own regulatory hurdles, as it has been served with a Wells notice by the US Securities and Exchange Commission (SEC). This notice suggests that the company may soon face enforcement action, adding to the already complex landscape of compliance and regulation.
According to insiders, Gemini has been actively contacting trading firms to secure market makers for its global operations. These efforts have been ongoing for several months as the company seeks to expand its reach and enhance its trading capabilities.
