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Finance

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

Users can receive yields of up to 8.05%.

By Sebastian Sinclair
AccessTimeIconOct 20, 2021 at 12:02 a.m. UTC
Updated May 11, 2023 at 7:09 p.m. UTC
A Gemini ad in New York City. (Bloomberg/Getty Images)
A Gemini ad in New York City. (Bloomberg/Getty Images)

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.
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    • Read more: Gemini Plots Singapore Expansion With Appointment of New Asia Director

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Sebastian Sinclair
    Sebastian Sinclair

    Sebastian Sinclair is a CoinDesk news reporter based in Australia.

    Follow @Sebsinclair1989 on Twitter
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    GeminiAsiaHong Kong