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New York-based Gemini cryptocurrency exchange has announced that it will begin offering Litecoin trading and custody services starting on Saturday, October 13th. Litecoin will join Bitcoin, Ether, and Zcash as the fourth currency on the Gemini exchange. The following new trading pairs will be available on Tuesday, October 16th:
Gemini, headed by Cameron and Tyler Winklevoss, is branded as the world’s most regulated cryptocurrency exchange and custodian. The exchange is overseen by the New York State Department of Financial Services (NYSDFS).
“The addition of Litecoin further solidifies Gemini’s standing as the go-to exchange for retail and institutional investors alike,” writes Gemini VP Eric Winer of Engineering in an official Medium post. “Gemini continues to grow with a ‘security-first’ approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets. Customers leveraging Gemini’s API functionality can see our updated symbol list here.”
Suggested Reading : Learn how Gemini compares to Coinbase in our exchange comparison.
Bitcoin Cash (BCH) Trading on Gemini Soon to Come
Winer writes that Gemini had planned to also announce support for fourth-ranked cryptocurrency Bitcoin Cash (BCH), but uncertainty within the Bitcoin Cash community surrounding a number of possible hard forks arriving in November has put the roll out on hold. Some of the proposed forks would not offer the replay protection feature necessary for Gemini to safely support BCH. Gemini expects to begin Bitcoin Cash deposits, withdrawals and trading sometime in late November, after the forks have passed and Gemini can reevaluate the health of the Bitcoin Cash ecosystem. Users are to expect some “coming soon” notifications for Bitcoin Cash on Gemini’s website and APIs.
Despite a series of failures by Cameron and Tyler Winklevoss to gain SEC approval for their proposed Bitcoin ETF, Gemini exchange has undergone a year of noteworthy expansion. The exchange has doubled the size of its staff, and has made some key hires, such as making former New York Stock Exchange Chief Information Officer Robert Cornish the company’s first chief technology officer:
“We remain certain that for cryptocurrency to realize its tremendous potential it is crucial to provide a safe and regulated environment for both innovation and consumer protection, and we are proud to work closely with both the market and regulators as we move towards the future of money.”
The Winklevoss Twins also appear to be playing an instrumental role in helping bring cryptocurrency to Wall Street. They have formed an ‘extremely close’ relationship with the heads of Nasdaq, and it is rumored that Gemini and Nasdaq Inc. will be partnering to launch a Nasdaq cryptocurrency trading desk by Q2 of 2019.
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