Gemini Offers Bitcoin Trading With 100x Leverage In Various Countries

JAKARTA - Gemini, a leading crypto asset exchange in the United States launched a new derivative platform - Gemini Foundation - in 30 countries on May 2. In a statement, the exchange revealed that the new platform will start trading on a Bitcoin (BTC) transaction contract traded with Gemini dollars (GUSD) in leverage up to 100 times. Gemini plans to launch trading for Ethereum (ETH) soon.

"In the next few months, we will expand our derivative offer with additional perpetual contracts, futures, and option trading," Gemini said in a statement.

However, the exchange confirms that new platforms are not available to customers in the United States, Britain, or the European Union. Meanwhile, the new platform will be available to crypto investors in selected countries in Latin America, Asia, and Africa, such as Singapore, Hong Kong, India, Argentina, the Bahamas, Nigeria, Egypt, South Africa, and others.

The platform will be available to institutional and retail traders. "The Gemini Foundation offers customers an efficient, highly available, and reliable place to trade derivatives. [This] Was built specifically for individuals and institutions," Gemini said.

According to a CryptoSlate report, Gemini's announcement comes after Bittrex and Beaxy became the target of regulatory action from the US Securities and Exchange Commission (SEC). The financial regulator also filed a lawsuit against Gemini regarding its inactive Earn program.

Meanwhile, the launch of the international platform Coinbase is the reason for Gemini to launch his new derivative platform. On the same day as the launch of the Gemini Foundation, Coinbase launched an international exchange for institutional traders outside the United States.

Gemini pun menegaskan bahwa mereka akan mendukung proses mediasi selama 30 hari untuk menyelesaikan kasus yang melibatkan pemberjaman pinjaman kripto Genesis, Digital Currency Group (DCG), Unsecured Creditors Committee (UCC), dan Creditor Committee. Exchange tersebut mengatakan bahwa mereka sedang bekerja sama dengan para pihak untuk menyelesaikan masalah tersebut. Namun, Gemini juga mengungkap kekecewaannya atlapannya kemajuan yang terjadi.