Kaiko recently announced a collaboration with the well-known crypto trading and storage platform, Gemini. This partnership focuses on integrating the Gemini Foundation with Gemini’s derivatives trading platform, incorporating the Kaiko Benchmark Reference Rates marketplace.
Exciting news from Kaiko as they team up with @Gemini! The Gemini Foundation will utilize Kaiko Benchmark Reference Rates for their derivatives trading platform. For more details, check out the full announcement here https://t.co/RVh5FkxqxC — Kaiko (@KaikoData) June 6, 2024
Kaiko Benchmark Reference Rates play a crucial role in enhancing portfolio valuation for a global company that specializes in offering derivatives trading services across various sectors. Originally designed for trading perpetual contracts, there are future plans to include dated futures and options, allowing users to trade assets like Bitcoin, Ethereum, and Solana without the need to physically own them. Portfolios are calculated in GUSD, Gemini’s stablecoin, providing a fair valuation as cryptocurrencies can trade with premiums or discounts based on factors like market depth. Reference rates from Kaiko utilize price information from the Gemini exchange and other reputable sources, updating rates automatically every 5 seconds.
Kaiko is committed to delivering quality data and reliability to the Gemini derivatives platform. William Cai, the managing director of Kaiko Indices, expressed enthusiasm for the partnership. He emphasized the importance of bringing top-notch data, solid reliability, and industry best practices to index design and management. Neil Sheppard, Head of Derivatives at Gemini, highlighted the platform’s dedication to providing accurate and comprehensive market information for trading cryptocurrency derivatives. By leveraging outstanding data solutions, Gemini aims to enhance the trading experience on their platform.
The collaboration between Kaiko and Gemini aims to elevate the Gemini trading platform by providing GraniteShare with precise real-time data on new ETFs, offering users trustworthy information to make informed decisions. Both parties are pleased to work together in enhancing trust within the cryptocurrency derivatives market.
