Crypto Exchange Gemini Adds Litecoin Trading Support With NYDFS Approval

Announcements, News | October 15, 2018 By:

Gemini, a New York-based crypto exchange founded by the Winklevoss twins, has added support for Litecoin trading and custody on its platform.

In a blog post, Gemini said that it started accepting Litecoin deposits on October 13 and that trading will begin on Tuesday, October 16. Litecoin trading pairs will be available against other cryptocurrencies listed on the platform, such as bitcoin, ethereum and Zcash, as well as against the US dollar.

Eric Winer, Gemini’s Vice president of engineering, said that the Litecoin listing has been approved by the New York State Department of Financial Services (NYDFS). He noted that Gemini is held to the highest standards of banking compliance and fiduciary obligations, and overseen by the NYDFS.

“The addition of Litecoin further solidifies Gemini’s standing as the go-to exchange for retail and institutional investors alike,” Winer said. “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. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets.”

Gemini had also planned to announce support for Bitcoin Cash (BCH) but has been pushed back amid uncertainty within the BCH community about one or more possible hard forks arriving in mid-November.

“Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash,” Winer said. “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.”