Gemini to Launch Perpetuals Exchange With BTC/GUSD
Gemini, a top-15 cryptocurrency exchange in terms of trading volume, has revealed the details of its upcoming products. Unfortunately, due to regulatory concerns, it will not be available to US investors. Gemini will launch a non-US arm for trading BTC/GUSD perpetual contracts.
A new trading platform, Gemini Foundation, will be launched soon, according to an official announcement shared by Gemini representatives on its main blog. It will offer Bitcoin (BTC) derivatives trading in tandem with Gemini Dollar (GUSD), the eighth-largest stablecoin pegged to the US dollar.
Traders in the United States of America will not be able to use the exchange services. The platform will only be available in some jurisdictions, including Singapore, Hong Kong, India, Brazil, Israel, Nigeria, South Africa, South Korea, Switzerland, Thailand, Turkey, Vietnam and a number of offshore territories like Cayman Islands or BVI.
The platform will work with up to 100x leverage, while 20x leverage will be available by default. Traders will be able to deposit USD at a 1:1 rate with USDC and GUSD with no additional fees.
(With inputs from Shikha Singh)
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