Key Insights:

• Gemini Trust Company plans to expand globally with its non-US entity, the Gemini Foundation.
• US regulatory uncertainty has led to local crypto companies diversifying into international markets for growth.
• Gemini faces SEC scrutiny and has left the US market to pursue a more extensive global crypto user base.

Gemini Trust Company LLC, a popular centralized crypto exchange, has revealed its plans to expand its operations beyond the European market and the United Kingdom by launching a non-US entity. The new entity, Gemini Foundation, will cater to individual and institutional investors and offer a Bitcoin perpetual contract denominated in Gemini dollars (GUSD) with leverage of up to 100x. Gemini has also revealed its intention to launch an ETH/GUSD perpetual contract for retail and institutional investors.

The Global Reach of Gemini Foundation

Gemini Foundation is currently accessible in a wide range of regions across the globe, including countries such as Argentina, Bahamas, Bermuda, Bhutan, Brazil, British Virgin Islands (BVI), Egypt, Hong Kong, India, Nigeria, Panama, Peru, Philippines, Singapore, South Africa, Switzerland, Thailand, Turkey, Uruguay, Vietnam, and many more. These jurisdictions have opened their doors to the Gemini Foundation, allowing individuals in these regions to enjoy the benefits of its services.

According to the company, Gemini Foundation provides a reliable platform for trading derivatives that is cost-effective, readily accessible, and trustworthy. This purpose-built platform is suitable for institutional and individual investors, and it seamlessly integrates sophisticated trading tools with a sleek user interface to offer a seamless trading experience.

The company is committed to its clientele to enhance its range of derivatives by introducing more perpetual contracts, futures with specified maturity dates, and various options in the forthcoming weeks.

US regulatory uncertainty spurs Coinbase diversification

The digital asset industry in the United States remains unregulated as regulators are yet to agree on a comprehensive plan similar to that of other regions such as the European Union, UAE, Hong Kong, and Singapore. This has led local cryptocurrency companies such as Coinbase Global Inc (NASDAQ: COIN) to explore international markets to increase their growth prospects.

Gemini is currently facing scrutiny from the United States Securities and Exchange Commission (SEC) for its Earn Program, which is embroiled in a quagmire involving FTX and Alameda Research. Recently, Gemini, Genesis, Digital Currency Group (DCG), the Unsecured Creditors Committee (UCC), and the Creditor Committee agreed to a 30-day mediation process to find a resolution as soon as possible.

As more countries adopt cryptocurrency-friendly policies, Gemini, which has over 94,000 Bitcoins in its balance, decided to exit the US market and pursue a larger share of the global crypto user base before the next bull market. The SEC has charged several crypto exchanges for providing unregistered securities to US investors. While it issued Coinbase with the green light to go public, it later charged it for conducting the same business, drawing criticism.

Tyler Winklevoss, the co-founder of Gemini, stated that a clear regulatory framework for crypto companies would benefit the United States significantly. The company stays within the US market but is looking towards international markets for future growth opportunities.