Winklevoss brothers have announced that they will start accepting Zcash deposits on May 19, and trading on their Gemini exchange on May 22.
Zcash, a “privacy coin” with a total market valuation of over $1 billion, is vying with Monero to become the dominant privacy-focused cryptocurrency.
Gemini president Cameron Winklevoss said it received approval from the New York Department of Financial Services (NYDFS) to handle the coin.
He claimed that Gemini is the first licensed Zcash exchange in the world.
Gemini was also reportedly granted permission to trade Litecoin and Bitcoin Cash.
In a related development, Bitcoin recovered its lost value in intra-day trading Monday.
The soft coin, which opened at $8,688 in the morning session, went down to $8,296 before dramatically shooting up later in the day, according to Coindesk.
by Joji Xavier
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