US crypto exchange launches XRP derivatives in Europe

Gemini has added XRP perpetual contracts to its European derivatives platform. This is the first time that an American exchange will offer leveraged XRP products to EU-based users through a Malta-registered entity.

The new listing will allow traders to go long or short XRP with up to 100x leverage, will be settled in USDC, and will have no fixed expiration date. The product is sold by Gemini Intergaoptic EU Artemis, Ltd. and is authorized by the Malta Financial Services Authority (MFSA).

The company says there are geographic and availability limitations, and in its risk disclosure, these products are high-volatility derivatives and may not be suitable for all investors.

XRP joins a growing list of cryptocurrencies supported by Gemini, which already includes Bitcoin, Ethereum, and the Solana perpetual currency launched for the region.

XRP futures

For those unfamiliar, perpetual contracts, unlike standard futures, do not expire every month. This means that traders can maintain their positions as long as they meet the margin requirements. But when they don’t, they usually get liquidated, and after an extreme cascade, the market is usually filled with headlines about how hundreds of millions or even billions of dollars were lost by traders.

For Gemini, this development is part of its expansion of regulated derivatives products within the European market, which already supports USDC-denominated payments, and from this perspective, the choice to list is self-explanatory.

According to CoinGlass, XRP remains one of the most traded digital assets in the world, with a 10-year trading history, with $13.18 billion in derivatives trading volume and $3.35 billion in open interest.