Gemini Reveals Plans to Open a Derivatives Platform Abroad
According to reports, Gemini, the cryptocurrency exchange, revealed on Friday that it plans to open a derivatives platform abroad. The company stated that the first product of the
According to reports, Gemini, the cryptocurrency exchange, revealed on Friday that it plans to open a derivatives platform abroad. The company stated that the first product of the new division, known as the Gemini Foundation, will be a perpetual Bitcoin (BTC) contract priced in Gemini dollars (GUSD). Next will be the Ethereum (ETH) perpetual contract linked to GUSD. Unlike traditional derivatives, perpetual contracts have no expiration date.
Gemini New Derivatives Platform Gemini Foundation Launches First BTC Perpetual Contract
Cryptocurrency exchanges are always looking for ways to expand their offerings and reach new markets. One exchange that has been making waves lately is Gemini, which recently announced its plans to open a derivatives platform abroad. The company’s new division, known as the Gemini Foundation, will be focused on offering perpetual contracts priced in Gemini dollars (GUSD).
What Are Perpetual Contracts?
Before delving into the specifics of Gemini’s new derivatives platform, it’s important to understand what perpetual contracts are. Unlike traditional derivatives, perpetual contracts have no expiration date. This means that traders can hold a position for as long as they want, until they choose to close it or are liquidated.
Perpetual contracts are extremely popular in the world of cryptocurrency trading, since they allow traders to profit from both an increase and a decrease in price. They are also highly leveraged, meaning traders can open positions that are much larger than their account balance.
Gemini’s First Product: BTC Perpetual Contract
Gemini’s first product on its new derivatives platform will be a BTC perpetual contract priced in GUSD. This contract will allow traders to speculate on the price of BTC without actually owning the cryptocurrency.
This offering is of particular interest, as it allows traders to take a position on BTC’s price without being exposed to the risks associated with ownership, such as custody and security concerns. Additionally, the contract being priced in GUSD means that traders will not have to worry about the volatility of BTC and other crypto assets.
The ETH Perpetual Contract
After the BTC perpetual contract, Gemini plans to offer an ETH perpetual contract priced in GUSD. This offering will appeal to traders who are interested in trading on the price of ETH without actually owning the asset.
Perpetual contracts have become an increasingly popular way for traders to get exposure to a wide range of cryptocurrencies without actually owning them. It will be interesting to see how Gemini’s new derivatives platform stacks up against other similar offerings in the market.
Conclusion
In conclusion, Gemini’s foray into the world of derivatives trading is a welcome addition to the cryptocurrency ecosystem. By offering perpetual contracts priced in GUSD, the company is providing traders with a new way to speculate on the price of BTC and ETH without the associated risks of ownership. It will be interesting to see how Gemini’s new derivatives platform performs in the coming months.
FAQs
1. What are perpetual contracts?
Perpetual contracts are a type of derivative that have no expiration date, allowing traders to hold positions for as long as they want.
2. What is Gemini’s new derivatives platform?
Gemini’s new derivatives platform, known as the Gemini Foundation, will offer perpetual contracts priced in GUSD.
3. What is the first product on Gemini’s derivatives platform?
The first product on Gemini’s derivatives platform will be a BTC perpetual contract priced in GUSD.
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