Gemini a New York-based crypto exchange has officially added Litecoin (LTC) in its index, with trading and custody services opening on October 16. The Gemini offers the following trading pairs:
Although, the exchange has four coins in its arsenal: Bitcoin, Ethereum, Litecoin, and Zcash. However, according to VP of engineering, Eric Winer, there was also planning to announce support today for Bitcoin Cash (BCH) which was later postponed due to some reasons.
“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.”
To offer users a fully secure ecosystem in their exchange, Gemini has been profoundly focused on security and compliance that will attract retail and institutional investors.
With the introduction of two Bitcoin ETFs to the U.S. Security and Exchange Commission which were both ultimately rejected this year, the exchange came under the concerns regarding security and fraud, and the need to protect the public among its reasons for rejection.
However, it is quite significant to note that Gemini has also incorporated the services of Nasdaq, extending their SMARTS Market Surveillance technology to monitor the exchange for trading irregularities.
According to Winer,
“Gemini is the world’s most regulated cryptocurrency exchange and custodian, held to the highest standards of banking compliance and fiduciary obligations, and 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. 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.”
- Bitcoin Cash(BCH)$165.41