TLDR
- Gemini has expanded its services in the European Economic Area by offering Ethereum and Solana staking.
- The exchange now allows users in Europe to trade perpetual contracts denominated in USDC.
- The introduction of staking for Ethereum and Solana strengthens Gemini’s position in the European crypto market.
- Gemini’s move to offer staking services aligns with the growing interest in Ethereum’s transition to proof-of-stake.
- The launch of perpetual contracts provides European users with new derivative trading options on Gemini.
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has expanded its services in the European Economic Area (EEA). As of September 5, users in the EEA can now stake Ethereum (ETH) and Solana (SOL). Additionally, they can trade perpetual contracts, especially those denominated in Circle’s USDC.
Ethereum Staking Now Available on Gemini in Europe
Gemini’s European customers can now stake Ethereum (ETH). This marks a significant addition to the exchange’s offerings in the region. With Ethereum staking, users can earn rewards by locking up their ETH for a specified period.
The launch follows a growing interest in staking Ethereum worldwide. Mark Jennings, Head of Gemini Europe, noted,
“We’re excited to provide our customers with more opportunities to earn from their Ethereum holdings.”
This new service enhances Gemini’s ability to compete in the expanding crypto market.
As Ethereum continues to transition to a proof-of-stake model, the demand for staking services has surged. Gemini is positioning itself to meet this demand and increase its footprint in the European market. The addition of Ethereum staking is a key step in fulfilling its broader strategy to grow its offerings.
Solana Staking Now Available
Solana (SOL) staking is now available for Gemini’s EEA-based users. The exchange is broadening its staking options with the addition of Solana, a popular blockchain known for its speed and scalability. With Solana staking, users can participate in the network’s proof-of-stake consensus mechanism.
“Adding Solana staking offers our users the ability to earn rewards on a fast and efficient blockchain,” said Jennings.
Solana has grown significantly in popularity due to its high transaction speeds and low fees. Gemini’s move to include it in their staking options signals the exchange’s commitment to meeting diverse user needs.
The inclusion of Solana in Gemini’s staking options follows a broader trend of expanding staking opportunities. As the demand for DeFi and blockchain-based financial products rises, Gemini continues to diversify its offerings to maintain its competitive edge.
Gemini’s Perpetual Contracts and USDC Trading
Gemini has also introduced perpetual contracts for its European customers, particularly those denominated in USD-pegged stablecoin, USDC. Perpetual contracts are a type of derivative that allows users to trade the price movements of an asset without an expiry date. This product addition aligns with Gemini’s strategy to cater to both retail and institutional customers in Europe.
With the introduction of perpetual contracts, Gemini is positioning itself as a key player in the European derivatives market. The move to trade in USDC ensures stability for users, especially in volatile market conditions. “This is an exciting new offering for our European customers,” said Jennings, underscoring the exchange’s commitment to providing secure and regulated services.
