Kaiko has recently announced an exciting partnership with Gemini, a well-known cryptocurrency trading and storage platform. This collaboration is centered around the Gemini Foundation and the derivatives trading platform offered by Gemini, which will now incorporate the Kaiko Benchmark Reference Rates marketplace.
In a recent tweet, Kaiko shared the news of its partnership with Gemini, revealing that the Gemini Foundation will be utilizing the Kaiko Benchmark Reference Rates for its derivatives trading platform. This partnership aims to enhance portfolio valuation and provide users with accurate and reliable pricing information.
Kaiko is a global company specializing in derivatives trading services across various sectors. Initially focused on perpetual contracts, the platform has plans to expand to include dated futures and options for assets like Bitcoin, Ethereum, and Solana. Users can trade these assets without physically owning them, with portfolios calculated in GUSD, Gemini’s stablecoin.
The use of Kaiko Benchmark Reference Rates ensures fair valuation of GUSD portfolios, as cryptocurrencies may trade at a premium or discount based on market conditions. These reference rates draw price information from the Gemini exchange and other reputable sources, updating every 5 seconds to provide accurate pricing data.
William Cai, Managing Director of Kaiko Indices, expressed excitement about the collaboration with Gemini Foundation’s derivatives platform. He emphasized Kaiko’s commitment to providing quality data and industry best practices for index design and management. Neil Sheppard, Head of Derivatives at Gemini, highlighted the platform’s dedication to offering users accurate market information and improving the trading experience through data solutions.
This partnership aims to enhance the Gemini trading platform by offering real-time data on new ETFs, providing users with valuable insights to make informed decisions. Both Kaiko and Gemini are pleased to work together to enhance trust in the cryptocurrency derivatives market, benefiting traders on the Gemini platform.