April 22 (Cointime) - Cryptocurrency exchange Gemini has announced the launch of a derivatives platform Gemini Foundation, but only for users outside of the U.S.

The platform will offer its first derivatives contract in the form of a BTC perpetual contract denominated in Gemini dollars, an ETH/GUSD perpetual contract will be introduced subsequently, according to an official blog post.

"Gemini Foundation will allow eligible customers to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure," the company said, adding that it would provide more information about the meaning of the name at a later date. 

Gemini Foundation will be available to customers in Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin Islands (BVI), Bhutan, Brazil, Cayman Islands, Chile, Egypt, El Salvador, Guernsey, Israel, Jersey, New Zealand, Nigeria, Panama, Peru, Philippines, Saint Lucia, Saint Vincent & Grenadine, South Africa, South Korea, Switzerland, Thailand, Turkey, Uruguay, and Vietnam. Gemini Foundation will not be available to customers in the United States of America.