Gemini Exchange to Start a Non-US Crypto Derivatives Platform

Cryptocurrency exchange Gemini is rolling out a non-US derivatives platform for digital assets.

(Bloomberg) — Cryptocurrency exchange Gemini is rolling out a non-US derivatives platform for digital assets.

The platform, Gemini Foundation, will initially offer Bitcoin and Ether perpetual contracts, according to a blog post from the company. Trading will be available across 30 territories, but not the US.

Unlike traditional calendar futures, perpetual contracts don’t expire and are popular in crypto as they allow traders to keep highly leveraged positions in place.

US-based Gemini is owned by billionaire twin brothers Tyler and Cameron Winklevoss. Last week it announced the appointment of an Asia-Pacific chief executive and said it will set up an engineering hub in India.

The Winklevoss brothers have dipped into their own pockets to support Gemini, which has faced numerous setbacks during a yearlong downturn for digital assets.

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