An American bitcoin-exchange platform itBit, has announced that it will be adding support for trading in four new cryptocurrencies. Thats after it received approval from the New York State Department of Financial Services (NYDFS). itBit which focused primarily on institutional investors will now also support Bitcoin Cash (Bitcoin.Cash), Ethereum (ETH/USD), Litecoin (LTC/USD) and Stellar Lumen (XLM) on its exchange.
Charles Cascarilla, CEO of itBit described the new step the company has made as “an important milestone for itBit’ as they create “a broader platform for crypto asset investors.”
“We are committed to the growth and evolution of this ecosystem and DFS approval allows us to offer more trading and custody services across a wider range of crypto assets.” he added.
ItBit becomes the first company in New York to offer Stellar Lumen (XLM) with the Department of Financial Services (DFS) approval. This can serve as a good precedent and open up the opportunities for the cryptocurrency to be listed in other exchanges.
Three years ago, itBit became the first officially regulated bitcoin exchange in the U.S. In 2016, the company rebranded and changed its name to Paxos. The itBit brand, however, continued to exist in the exchange sphere.
Also, it became known that Switzerland bitcoin wallet provider Xapo, has also received a license to conduct business in New York. Currently, in addition to Xapo, BitLicense’s have also been given to Barry Silbert’s Genesis Global Trading, Japanese bitFlyer, Coinbase, Ripple, and Circle. In addition, a special permit for trading Zcash (ZEC/USD) has been given to a Gemini exchange, owned by Winklevoss brothers.
By Nadya Astam