Kaiko has recently announced a new partnership with the well-known crypto trading and storage platform, Gemini. This collaboration focuses on the use of Kaiko Benchmark Reference Rates for the derivatives trading platform offered by the Gemini Foundation. The partnership aims to implement the Kaiko Benchmark Reference Rates marketplace.
Gemini Foundation will integrate the Kaiko Benchmark Reference Rates into its derivatives trading platform. This move is part of Gemini’s efforts to enhance portfolio valuation and offer a wide range of services in the derivatives trading sector. Initially, the platform was designed for trading perpetual contracts, with plans to expand to include dated futures and options. Users will have the ability to trade various assets like Bitcoin, Ethereum, and Solana without the need to physically own these assets. It is important to note that users’ portfolios will be calculated in GUSD, Gemini’s stablecoin.
The use of Kaiko Benchmark Reference Rates ensures a fair valuation of portfolios denominated in GUSD, as cryptocurrencies can trade at a premium or discount based on market conditions. These reference rates utilize price data from the Gemini exchange and other reliable sources, providing accurate and timely pricing information. The rates are updated automatically at five-second intervals.
William Cai, the managing director of Kaiko Indices, expressed enthusiasm about the partnership with Gemini Foundation. He highlighted Kaiko’s commitment to bringing quality data, reliability, and industry best practices to the design and management of indices. Neil Sheppard, Head of Derivatives at Gemini, emphasized the platform’s dedication to providing users with precise and comprehensive market data for trading cryptocurrency derivatives. Sheppard also mentioned plans to enhance the trading experience on Gemini by leveraging innovative data solutions.
The collaboration between Kaiko and Gemini aims to enhance the Gemini trading platform by offering accurate real-time data on new ETFs. This will empower Gemini users to make informed trading decisions with confidence. Both Kaiko and Gemini are excited to work together to improve trust and transparency in the cryptocurrency derivatives market.