Gemini has added XRP to the lineup of perpetual contract assets available on its offshore exchange.
XRP investors have one more platform to speculate and gain exposure to the price of the asset. Today, the popular crypto exchange Gemini revealed that it has added the XRP/GUSD perpetual contract to its offshore exchange, called Gemini Foundation.
The exchange first hinted at a possible addition earlier this week and has now followed through with an official listing.
The newly launched product allows investors to profit from the rise and fall in XRP price without owning the underlying asset. Instead, customers will trade derivatives contracts settled in the Gemini USD (GUSD) stablecoin.
Being “perpetual” means that users can retain exposure to the asset without any expiration as long as they can meet the stated margin requirements. Additionally, they can access up to 100x leverage, albeit at a higher risk.
It is noteworthy that unlike the traditional Gemini exchange, which serves customers in the EU, United Kingdom, and the United States, the Gemini Foundation is not available in these regions.
The exchange lists over 30 countries where customers can access the product, with a plan to expand the number of countries and assets as the user base grows.
Meanwhile, the latest listing means that XRP joins a limited class of cryptocurrencies available for perpetual contracts trading on Gemini’s offshore exchange. Before now, the platform only offered trading for Bitcoin (BTC), Ether (ETH), and Pepe (PEPE).
Gemini Doubling Down on XRP
The early addition of XRP to the Gemini Foundation platform catches the eye for a reason. Despite launching in 2015, the exchange did not list XRP on its global platform until Ripple’s landmark regulatory victory in the United States last year.
Hence, bringing XRP on board at this stage of its offshore exchange may suggest a recognition of the growing interest in the asset. Recall that Coinbase made a similar move last October.
XRP is currently the sixth largest crypto asset by market capitalization, trailing only Bitcoin, Ether, Tether, BNB, and Solana.
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