Litecoin (LTC) Trading Gets Big Boost with Winklevoss’s Gemini Platform Addition
Gemini Exchange Will Soon Allow Customers to Use Litecoin for Trading
On Friday, the Winklevoss brothers announced that their cryptocurrency exchange, Gemini, would be welcoming a new trading pair – Litecoin. Investors will have the option of depositing or trading with the token, just like they can already do with Bitcoin, Ethereum, and Zcash. The listing has already received approval from the New York State Department of Financial Services (NYDFS).
Eric Winer, the vice president of engineering for Gemini, said that the decision comes from the exchanges constant goal of supporting “the future of money” with “a safe and regulated environment for both innovation and consumer protection.” With their regulatory approval, Winer said that the platform is:
“held to the highest standards of banking compliance and fiduciary obligations.”
Gemini focuses on security on their platform and has been “working closely” to ensure approval for Litecoin custody and trading services. According to reports online, the ability to deposit Litecoin in their wallets will begin at 9:30am EST on October 13th. However, the ability to trade won’t come until three days later at the same time. It will be paired with USD, Bitcoin, Ether, and Zcash.
“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.”
Due to this delay, investors can expect to see “coming soon” graphics posted on the Gemini platform for advertisement with Bitcoin Cash.