Kaiko has recently revealed a partnership with Gemini, a reputable crypto trading and storage platform. This partnership revolves around the Gemini Foundation and the derivatives trading platform provided by Gemini. It will implement Kaiko Benchmark Reference Rates marketplace.
Kaiko is thrilled to announce its partnership with @Gemini
Gemini Foundation will be using Kaiko Benchmark Reference Rates for its derivatives trading platform.
Read the full announcement, below 👇 https://t.co/RVh5FkxqxC
— Kaiko (@KaikoData) June 6, 2024
Kaiko Benchmark Reference Rates Enhance Portfolio Valuation
It is a global company that specializes in offering derivatives trading services in various areas. Initially, the platform was built on the ability to trade perpetual contracts, and there were future plans to add dated futures and options. It can enable users to trade on different assets such as Bitcoin, Ethereum, and Solana without necessarily holding or owning these assets physically. However, it is worth mentioning that users’ portfolios are calculated in the GUSD, which is Gemini’s stablecoin.
This assists in providing a fair valuation of GUSD portfolios as cryptocurrencies may trade with a premium or a discount based on factors such as, market depth among others. That is where reference rates come into play. Kaiko Benchmark Reference Rates use price information from the Gemini exchange as well as other credible sources, and their extensive and credible method when calculating the price. All the rates are updated automatically in a 5 second interval.
Kaiko to Bring Quality Data and Reliability to Gemini Derivatives Platform
William Cai, the managing director of Kaiko Indices, showed interest in the collaboration as well. He stated that Kaiko is excited to be partnering with Gemini Foundation derivatives platform, stating that through Kaiko would bring quality data, reliable firmness, and the industry’s sound practice in the design and administration of index.
And Neil Sheppard, Head of Derivatives at Gemini, added in a statement that he stressed that Gemini aims at providing its users with accurate and comprehensive market information. It is a valuable resource for trading cryptocurrency derivatives. Sheppard also pointed out that they would deepen the trading experience on Gemini by leveraging the amazing data solutions.
This collaboration is meant to improve the Gemini trading platform by giving GraniteShare accurate real-time data on the new ETFs that Gemini trading users can trust in making informed decisions. Kaiko and Gemini stated they are glad to be partners in improving the current trust in the cryptocurrency derivatives market.