The Winklevoss Twins’ Gemini crypto exchange has received the regulatory approval to list Litecoin (LTC) on its platform. Eric Winer, Gemini’s Vice President of Engineering shared this announcement through a blog post. Eric informed that traders can start depositing Litecoin into their exchange accounts as of 9.30 a.m. EDT, October 13. The post further added that Litecoin trading will go live on October 16, 9.30 a.m. EDT.
Along with Ethereum (ETH), Zcash (ZEC) and Bitcoin (BTC), Litecoin (LTC) will be the fourth cryptocurrency to be supported on the Gemini exchange platform. The post stated that LTC trading pairs will be available for trading against ETH, ZEC, and BTC, as well as against the USD.
Crypto exchange Gemini is considered to be the world’s most regulated exchange. It adheres to the highest standards of fiduciary obligations and banking compliance that is overseen by the New York State Department of Financial Services (NYSDFS). Eric Winer in his blog post stated that Gemini continues to believe in its “security-first” approach. He further stated that the exchange worked quite closely with NYSDFS to gain approval for LTC trading and custody services.
Eric Winer mentioned that the support for Bitcoin Cash (BCH) was also supposed to be announced along with LTC. However, owing to the high levels of uncertainty prevailing within the Bitcoin community about one or more possible hard forks planned for mid-November, the exchange has decided to delay extending its support to BCH.
Gemini’s VP Engineering further added that they are certain that for cryptocurrency to realize its huge potential, it is very important to provide a regulated and safe environment for both consumer protection and innovation. He stated that the exchange is proud to work closely with both the regulators and the market, as they move towards the future of money, as mentioned in the Medium blog post.
Crypto exchange Gemini had secured insurance coverage for custodied digital assets from Aon, lending services firm, earlier this month. Aon will complement Gemini’s already available Federal Deposit Insurance Corporation (FDIC) coverage for USD deposits, as stated in the Cointelegraph report.
The post Crypto Exchange Gemini Receives Regulatory Approval To List Litecoin appeared first on OWLT Market.
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