Gemini intros new platform for users abroad amid US regulatory headache

Gemini, the crypto exchange founded by twins Cameron and Tyler Winklevoss, is launching a derivatives platform — but only for users outside of the U.S.

Dubbed the Gemini Foundation, the platform's first derivatives contract will be a BTC perpetual contract denominated in Gemini dollars. An ETH/GUSD perpetual contract will follow, the company said Friday in a blog post. 

"Gemini Foundation will allow eligible customers to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure," the company said, adding that it would provide more information about the meaning of the name at a later date. 

The platform will be available in countries including Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, Brazil, El Salvador, Israel, Nigeria, South Africa, South Korea, Switzerland, Thailand and Turkey.

Gemini said yesterday that it had big plans to expand outside of the U.S., with a new chief executive officer for Asia-Pacific and a forthcoming office in India. The announcement comes as U.S. exchanges are increasingly focusing on markets abroad amid an increasingly complex regulator environment.