Gemini Foundation, the derivatives-focused subsidiary of the Gemini crypto exchange, has expanded its offerings by launching a new perpetual contract for Shiba Inu (SHIB).
The platform announced the update via a blog post, highlighting that the new product is now accessible in select derivatives-enabled jurisdictions. The contract allows users to trade SHIB against Gemini Dollars (GUSD) with up to 100x leverage, offering significant market opportunities with minimal capital.
NEW: SHIB/GUSD, UNI/GUSD, and BCH/GUSD perpetual contracts now available for trading on Gemini Derivatives.
Now trading → https://t.co/Ap4YOQIyO3 pic.twitter.com/2owsIjeRRF
— Gemini (@Gemini) December 10, 2024
This new offering is part of Gemini Foundation’s broader expansion, which now includes perpetual contracts for other cryptocurrencies such as Bitcoin Cash (BCH) and Uniswap (UNI).
Gemini Foundation’s services remain restricted to regions where derivative trading is permitted, excluding markets like the United States, United Kingdom, and European Union. The platform operates in 32 jurisdictions, including Argentina, Singapore, Turkey, Brazil, and the Bahamas.
Traders in these eligible regions can speculate on SHIB price movements through perpetual contracts without the need to directly own the token. To begin trading, users must create an account on Gemini Foundation, activate their derivatives account, and deposit either GUSD or BTC into their account. After agreeing to the product terms, they can start trading SHIB and other assets.
Notably, this announcement comes as the Shiba Inu team continues to generate buzz in the cryptocurrency space. The team recently unveiled plans to establish the Strategic Hub for Innovation in Blockchain (S.H.I.B.) in the United States. The initiative, which aims to position the U.S. as a leader in blockchain development, focuses on infrastructure, regulatory frameworks, sustainability, and talent cultivation. The proposed budget for the project ranges from $1.3 billion to $2.35 billion over the next 5 to 10 years.
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