Kaiko has exciting news to share as they have recently announced a new partnership with the well-known crypto trading and storage platform, Gemini. This collaboration will focus on incorporating the Gemini Foundation and utilizing the derivatives trading platform offered by Gemini, integrating the Kaiko Benchmark Reference Rates marketplace.
The Gemini Foundation will be utilizing the Kaiko Benchmark Reference Rates for its derivatives trading platform, a move that will enhance portfolio valuation for users. This global company specializes in providing derivatives trading services across various sectors. Initially focused on perpetual contracts, there are plans to expand to include dated futures and options. This platform allows users to trade assets like Bitcoin, Ethereum, and Solana without the need to physically own them. It’s important to note that portfolios are calculated in GUSD, Gemini’s stablecoin.
The use of reference rates is crucial in accurately valuing portfolios, especially as cryptocurrencies may trade at a premium or discount based on various factors. Kaiko Benchmark Reference Rates utilize price data from Gemini exchange and other reputable sources, ensuring a reliable and transparent calculation process. These rates are automatically updated at 5-second intervals.
William Cai, the managing director of Kaiko Indices, expressed enthusiasm for the partnership, highlighting Kaiko’s commitment to providing quality data and industry best practices to the Gemini Foundation derivatives platform. Neil Sheppard, Head of Derivatives at Gemini, emphasized the platform’s dedication to offering users accurate and comprehensive market information for cryptocurrency derivatives trading. This collaboration aims to enhance the trading experience on Gemini by leveraging data solutions to provide users with real-time data on new ETFs.
The partnership between Kaiko and Gemini strives to boost trust in the cryptocurrency derivatives market by improving the trading platform and offering users reliable data for making informed decisions. This collaboration marks a significant step in advancing the industry and providing users with a trustworthy platform for trading cryptocurrency derivatives.