The Gemini crypto exchange, belonging to the Winklevoss brothers, officially announced the beginning of support for the seventh capitalized cryptocurrency litecoin (LTC/USD). As noted in the statement, the litecoin listing took place after receiving the appropriate permission from the the New York State Department of Financial Services (NYDFS).
We are pleased to announce that @litecoin (LTC) is now available on Gemini! Starting tomorrow, we will begin accepting Litecoin deposits, and trading will open across all currency pairs on Tuesday. For more information, please visit our blog on @Medium https://t.co/it5xuF9Hr5
— Gemini (@GeminiTrust) October 12, 2018
Receipt of deposits in LTC will begin on Saturday, October 13, trades will start on Tuesday, October 16. Litecoin became the fourth cryptocurrency, which will now trade on Gemini, making a company of bitcoin (Bitcoin), ethereum (ETH/USD) and zcash (ZEC/USD), in pairs to which trading will take place.
Recall, representatives of the New York-based exchange Gemini announced the addition to the platform of the seventh capitalized cryptocurrency Litecoin in September. As representatives of the Litecoin Foundation noted then, October 13 is not a simple day for the project. This date is considered LTC's birthday.
Also today was scheduled a listing of another cryptocurrency - bitcoin cash. However, Gemini Vice President Eric Winer noted that the uncertainty associated with the hard fork of this cryptocurrency in mid-November forced the stock exchange to temporarily postpone these plans.
«Some of those forks lack the replay protection feature that would be required for Gemini to safely support bitcoin cash. Because of this situation, we are delaying our launch of Bitcoin Cash deposits, withdrawals, and trading until late November, after the forks have passed and we can evaluate the health of the Bitcoin Cash ecosystem,» reads the message.
Litecoin will also return to the CEX.io bitcoin exchange. The platform last week announced its intention to return support for the altcoin. In February 2017, the exchange removed LTC from the auction, motivating this decision by low user activity, however, it now declares its readiness to provide new opportunities and upgrade the platform. By the way, at the initial stage, trading in a pair of LTC / BTC will come with zero commissions.
For Gemini, the last weeks are also rich in news. In late September, the media reported that the Winklevoss brothers are exploring opportunities to expand their business in the UK. The company intends to apply for a license to the Financial Conduct Authority (FCA). It was reported that Gemini has already formed a working group to explore opportunities in the UK market.
"Scaling a New York trust company in one of the fastest growing industries in the world carries with it unique challenges — challenges that Jeanine’s deep background in marketplaces and leading high-achieving operational teams will help us navigate as we sail the Gemini Spaceship towards the moon," Cameron Winklevoss explained.
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