Digital Assets: Gemini Introduces Non-US Crypto Derivatives Platform

The team at Gemini is pleased to announce the upcoming launch of Gemini Foundation — a non-US crypto derivatives platform.

Their first derivatives contract “will be a BTC perpetual contract denominated in Gemini dollars (GUSD).”

An ETH/GUSD perpetual contract “will launch soon thereafter.”

Gemini Foundation will “allow eligible customers to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure.”

Eligible customers will be able “to trade both spot and derivatives products and execute all of their trading strategies within a secure and trusted platform.”

Gemini Foundation will be available to customers in “the following areas: Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Brazil, Cayman Islands, Chile, Egypt, El Salvador, Guernsey, Israel, Jersey, New Zealand, Nigeria, Panama, Peru, Philippines, Saint Lucia, Saint Vincent & Grenadine, South Africa, South Korea, Switzerland, Thailand, Turkey, Uruguay, and Vietnam.”

Gemini Foundation will “not be available to customers in the United States of America.”

Eligible customers will be able “to convert USD and USDC into GUSD on a 1:1 basis, and vice versa, in order to fund their Gemini Foundation account at no additional cost.”

All perpetual funding payments will be in GUSD. All unrealized and realized P&L will be in GUSD. All fees will be charged in GUSD. Default leverage is set to 20x. Maximum possible leverage is 100x.

Gemini Foundation will aim to “offer customers a capital-efficient, highly available, and trusted venue to trade derivatives.”

Purpose-built for both individuals and institutions, Gemini Foundation “combines powerful trading tools with an elegant user experience.”

Whether you’re a professional trader or just getting started, Gemini Foundation is “designed to help you succeed.” Gemini Foundation will “continue to expand its derivatives offering in the coming months.”

At Gemini, they are determined “to unlock the next era of financial, creative, and personal freedom with crypto and Web3 innovation.”

To advance their mission, they claim that they must continue “to invest in and accelerate the development of products and services used by millions of our customers worldwide.”

As noted in a blog post:

As a company, we have deep respect and admiration for India’s tradition of engineering excellence and view India as a hotbed for bar-raising technology talent. Right now, we are in the midst of opening our engineering center in Gurgaon, India, and are actively hiring in the region. Our Gurgaon office will be the second largest Gemini engineering hub behind the United States and complements our existing offices in the United States, the United Kingdom, Ireland, and Singapore.”

Their engineering, design, and operations teams in India “will make significant contributions to the development of their next-generation web and mobile user experiences, core platform fundamentals in the area of compliance, data pipelines and warehousing, security, and payments, along with building new feature sets for their NFT and crypto asset marketplaces.”

The products and features built in their India location will be “used by their retail and institutional customers in 70+ countries.”

The firm added that they are “actively hiring software engineers and technical product managers to work from our Gurgaon office along with other key roles, including human resources and talent acquisition, finance, support, and compliance.”

The firm also noted that while past experience in Web3 and crypto technologies is not a prerequisite, they are “seeking builders who are inspired to learn quickly and work on cutting-edge technologies like DeFi, NFTs, DAOs, and Web3.

For more details, check here.

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