US-based cryptocurrency exchange Gemini is set to launch an offshore derivatives trading platform, as the exodus of crypto firms from the United States continues.
The new platform, called Gemini Foundation, will enable users outside the US to trade on both spot and derivatives markets, starting with a BTC perpetual contract denominated in GUSD, the exchange’s US-dollar-pegged stablecoin.
Gemini Foundation will be available to customers in several countries in Central and South America and Asia, including Singapore, Hong Kong, India, Israel, and Thailand.
The exchange has not specified the launch date but users can sign up for priority access. Gemini’s move to India follows the country’s evolving stance on digital assets, and India’s finance minister has recently proposed a standard framework for cryptocurrencies and digital assets for the G20 countries.