Gemini Introduces ‘Earn’ Product in Hong Kong as Part of Asia Push

Users can receive yields of up to 8.05%.

Oct 20, 2021 at 12:02 a.m. UTC
Updated Oct 20, 2021 at 2:13 p.m. UTC

U.S.-based crypto exchange Gemini has launched its interest-bearing product in Hong Kong.

  • “Gemini Earn” enables customers to receive up to 8.05% annual percentage yield (APY), according to a press release on Tuesday.
  • The exchange supports interest-bearing APY for up to 39 different assets with the highest rate provided by Gemini’s own stablecoin, GUSD.
  • Jeremy Ng, managing director of Gemini Asia Pacific, told CoinDesk via Telegram Tuesday that the move was part of the exchange’s expansion into Asia.
  • “It’s important to provide our customers here with access to products and tools to help them along their crypto journey,” Ng said. “Gemini is committed to developing products that are customized and localized for our Asia-based customers.”
  • Founded in 2014 by twin brothers Cameron and Tyler Winklevoss, Gemini expanded into the Asia Pacific region last year, establishing a base in Singapore and a satellite office in Hong Kong.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.