U.S.-based cryptocurrency exchange Gemini revealed on Friday that it plans to launch a cryptocurrency derivatives platform overseas that will not be available to customers in the United States of America. The new platform is called Gemini Foundation, and its first product will be a Bitcoin perpetual contract denominated in GUSD, the company said. Ethereum perpetual contracts denominated in GUSD will also be launched next. Meanwhile, U.S. regulators are stepping up scrutiny of cryptocurrencies, and Gemini is also affected. In January, Gemini was charged by the US Securities and Exchange Commission (SEC) with selling unregistered securities. And, developing a company outside of the U.S. doesn’t mean Gemini will be free from U.S. regulators.
Gemini Foundation will be available in the following regions:
Thailand, Singapore, Hong Kong, Philippines, Korea, India, El Salvador, South Africa, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Brazil, Cayman Islands, Chile, Egypt, Guernsey, Israel, Jersey West Island, New Zealand, Nigeria, Panama, Peru, Saint Lucia, Vietnam, Switzerland, Turkey, Uruguay and Saint Vincent and the Grenadines.