Gemini Foundation, the offshore derivatives arm of cryptocurrency exchange Gemini, launched Shiba Inu (SHIB) perpetual contracts on December 10, enabling non-U.S. traders to access up to 100x leverage through SHIB/GUSD trading pairs.
Strategic Expansion
The SHIB perpetual contracts launch coincides with the addition of Uniswap (UNI) and Bitcoin Cash (BCH) trading pairs, all settled in Gemini Dollar (GUSD). While unavailable to traders in the United States, United Kingdom, and European Union, the platform serves users across 25 countries, including major markets like Singapore, India, Hong Kong, and Switzerland.
Market Impact
Following the announcement, SHIB’s 24-hour trading volume surged 8%. The memecoin maintains a $6.8 billion market capitalization, ranking it among the top 20 cryptocurrencies. Gemini Foundation reported a 20% increase in overall derivatives activity post-launch.
Industry Context
The integration of memecoins into structured financial products reflects a broader industry trend, with competitors Binance and OKX similarly expanding their derivatives offerings in offshore markets. This development highlights the growing intersection between speculative crypto assets and traditional financial instruments.
Official Statement and Expert Analysis
Gemini emphasized its global strategy in an official statement:
We aim to create a seamless trading experience for global users by offering a diversified range of perpetual contracts while ensuring regulatory compliance.
Rachel Lin, CEO of decentralized derivatives exchange SynFutures, noted the strategic importance of memecoin derivatives:
Memecoins like SHIB have become market drivers. While risky, their trading potential offers unmatched liquidity and engagement for experienced traders.
Market Implications
The launch represents a significant step in the evolution of crypto derivatives trading, particularly in markets seeking regulatory flexibility. This expansion demonstrates the growing institutional acceptance of speculative crypto assets while highlighting the continuing shift toward global trading venues.
For detailed information about the new trading pairs, visit the official Gemini announcement.