Kaiko has entered into a partnership with Gemini Foundation. Under the agreement, Gemini’s crypto derivatives trading platform will use the Kaiko Benchmark Reference Rates for its derivatives trading platform.
According to a Kaiko press release, Gemini Foundation offers derivatives trading in jurisdictions around the world. While it launched with perpetual contracts, it intends to provide dated futures and options in the near future. With Gemini’s derivatives contracts, users can leverage trades on 12 assets, such as BTC (Bitcoin), ETH (Ethereum), and SOL (Solana), without owning the underlying asset. Users’ portfolios are instead valued in Gemini’s stablecoin (GUSD).
According to a Forbes article, Gemini Foundation made Forbes’ list of “The Best Crypto Exchanges & Apps of June 2024.” It received a 4.5-star rating, second to Kraken, which the publication gave 4.6 stars. Forbes highlighted the platform’s “pros,” which include its simple and intuitive user interface and its availability in all 50 states, even New York. Some of the cons included a confusing fee structure when users are not spot trading, limited customer service options, and the unavailability of a few popular coins.
Kaiko is headquartered in Paris and also has offices in London, New York, and Singapore, according to its website. The company was founded in 2014 and aims to provide crypto market participants with research and data for use cases throughout the investment lifecycle. Kaiko’s goal is to bridge the gap between traditional and digital finance and empower businesses with market data from centralized and decentralized sources.
