The Gemini Foundation, a leading cryptocurrency exchange platform, has recently announced that it will be hitting the market soon. The foundation boasts of its vast array of offerings, from its advanced trading features to its intuitive user interface. With its upcoming launch, the Gemini Foundation aims to revolutionize the way people engage with cryptocurrencies by providing a secure, transparent and trustworthy platform for all crypto transactions. Stay tuned for the exciting launch of this new player in the market!
Gemini Foundation to Launch Derivative Trading: USD and USDC Convertible to GUSD
Gemini Foundation has announced it will soon launch derivative trading services. While a schedule has yet to be announced, the platform has informed the community that USD and USDC can be converted to GUSD or Gemini Dollars. The first derivative contract to go live on the platform will be with BTC, followed by ETH/GUSD.
Only eligible traders will be able to trade spot and derivative products, requiring them to have a trading strategy to execute their trades effectively. For those interested in trading, Gemini Foundation enables traders to leverage the potential of cryptocurrency assets to achieve crypto exposure. This includes long or short exposure, with better risk management tools available to be utilized.
Gemini Foundation is offering a chance to sign up for priority access. Interested traders who sign up will be notified once the platform goes live. However, traders in the United States of America will be unable to access Gemini Foundation. Countries, where traders can access the platform, include India, Argentina, Singapore, Israel, New Zealand, El Salvador, and the British Virgin Islands, among many others.
The conversion rate between USD and USDC and GUSD will be 1:1, with the same principle applying when converting GUSD back to the source currency. GUSD has the potential to manage the platform’s internal economics, with only GUSD facilitating payments. All profit and loss, whether realized or unrealized, will be recorded in GUSD.
Gemini Foundation will go live with a default leverage of 20x and a maximum leverage of 100x, with more derivatives expected to be added after launch. The platform has been specifically built for individuals and institutions, with tools for trading available to all types of traders, ensuring they can maximize their profits.
Centralized in nature, Gemini has listed over 20 cryptocurrencies on the platform, with more than 50 trading pairs available for users. However, operations of the Gemini Foundation will be restricted in the US, except in Hawaii. Transfer limits for the exchange services can be read in our Gemini Exchange reviews, along with the minimum trading requirement for the platform.
Gemini is mostly known for the Winklevoss Twins, famous for claiming the settlement victory over Mark Zuckerberg. The UK and Canada were among the first international destinations for Gemini Exchange, with international expansion followed by propelling markets in South Korea, Hong Kong, and Japan. The news of the launch of the Gemini Foundation comes days after it announced the expansion of its global engineering and operational teams, soon opening in Gurgaon, India. Pravjit Tiwana, the Global Chief Technical Officer at Gemini, made the announcement. He is also Chief Executive Officer of Asia Pacific (APAC).
Title 1: Gemini Foundation Announces Launch of Derivative Trading: USD and USDC Convertible to GUSD
Title 2: Centralized Exchange Gemini Launches Derivative Trading with 20x Default Leverage: BTC and ETH/GUSD First Contracts