Crypto exchange Gemini announced that it will soon launch a non-US cryptocurrency derivatives platform, Gemini Foundation. Its first derivatives contract will be a BTC perpetual contract denominated in Gemini Dollars (GUSD), and ETH/GUSD will be launched soon. Eligible customers will be able to convert USD and USDC to GUSD and vice versa at a 1:1 ratio to fund their Gemini Foundation accounts at no additional cost. All perpetual fund payments, profit and loss, fees will be made in GUSD. Currently, the default leverage setting is 20x. The maximum possible leverage is 100x. The Gemini Foundation will allow eligible clients to leverage their crypto assets to achieve long or short crypto exposure to manage risk, generate returns and gain directional exposure. Eligible clients will be able to trade spot and derivatives products and execute all their trading strategies within a safe and secure platform. In addition, Gemini Foundation will provide services in 30 countries or regions including Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, and customers in the United States of America will not be available.