Gemini eyeing launch of derivatives, hiring for new director

Gemini — the cryptocurrency exchange run by the Winklevoss twins — is eyeing the derivatives market. 

The firm, which offers cryptocurrency services for both institutional and retail users, is currently hiring for a director of derivatives to "build a best in class derivatives platform," according to a job posting. 

"We are looking for a candidate with experience managing strategy & operations of exchange services in a constantly evolving business environment," the job posting added. "The ideal candidate should have the ability to cultivate internal relationships to drive cross departmental collaboration and execution of our derivative strategy and go to market."

Gemini isn't the only firm looking to enter the derivatives market. In September, Coinbase filed an application with the National Futures Association to nab futures commission merchant status. Last month, FTX.US finalized its acquisition of LedgerX to offer derivatives to its clients. 

A spokeswoman for Gemini declined to comment. 

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Frank Chaparro covers the intersection of financial markets and cryptocurrency as Editor-at-Large. Since joining the publication in 2018 as its first reporter, he has played a key role in building The Block into a leader in financial journalism and research. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected]