Gemini secures Derivatives Clearing Organization license as it works toward full CFTC stack

Gemini has obtained a Derivatives Clearing Organization (DCO) license from the Commodity Futures Trading Commission (CFTC), a significant step in its strategy to offer a comprehensive suite of derivatives trading services. This license allows Gemini's Olympus unit to function as a clearinghouse, managing settlement, risk, and guaranteeing trades on its Titan platform, thereby reducing reliance on third-party clearing. This DCO license, combined with its previously acquired Designated Contract Market (DCM) license, positions Gemini to offer futures, options, and prediction markets. The company aims to secure a full stack of CFTC licenses, potentially including a Futures Commission Merchant (FCM) license. Gemini's expansion into derivatives trading follows a trend among U.S. crypto exchanges like Coinbase and Kraken, which are also building out broader trading capabilities. Despite recent financial challenges and executive reshuffles, Gemini continues to pursue its marketplace expansion goals.

(Source：The Block)