Gemini to Open a Crypto Derivatives Platform Outside the U.S.

Gemini, the US-based crypto exchange, revealed Friday that it has plans to open an offshore derivatives platform - a decision announced as the regulatory environment gets tougher in its home country. The first product at Gemini Foundation, as the new division is called, will be a perpetual bitcoin (BTC) contract denominated in Gemini dollars (GUSD), the company said, followed by a perpetual ether (ETH) contract also linked to GUSD. The decision coincides with US regulators getting stricter about cryptocurrencies in the world's biggest economy - a campaign that's affected Gemini.

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