Svmuu, Gemini's Olympus division has officially obtained a Derivatives Clearing Organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC). It can now independently handle settlement, risk management, and collateral management as an internal clearing house, completely eliminating reliance on third-party clearing. This is expected to significantly reduce operating costs and improve trading efficiency.
Previously, Gemini already held a CFTC Designated Contract Market (DCM) license. The combination of both licenses enables it to conduct full-stack compliant operations in the futures, options, perpetual contracts, and prediction markets. Currently, Gemini is accelerating its application for a Futures Commission Merchant (FCM) license to complete its full suite of CFTC qualifications, positioning itself for direct competition with Kraken and Coinbase in the U.S. compliant derivatives market. (The Block)