Winklevoss Twins' Gemini Crypto Exchange Gets Regulatory Green Light for Litecoin Trading
U.S.-based cryptocurrency exchange Gemini, owned by the Winklevoss twins, has sealed regulatory approval to add Litecoin (LTC) custody and trading. The news comes from an official Medium blog post published Friday, Oct. 12.
Geminis vice president of engineering, Eric Winer, informs Gemini traders that they can begin depositing Litecoin into their exchange accounts as of 9:30 am EDT Saturday, Oct. 13. Litecoin trading will reportedly go live Tuesday, October 16th at 9:30 am EDT.
The coin is set to be the fourth crypto supported on the platform, alongside Bitcoin (BTC), Ethereum (ETH), and Zcash (ZEC). Consequently, LTC trading pairs will be available against all three cryptos, as well as against the U.S. dollar.
Winers post underscores Geminis thoroughgoing banking compliance and fiduciary obligations under oversight from the New York State Department of Financial Services (NYDFS). It notes that Litecoin trading support comes as the result of close cooperation with the watchdog, and that the exchange continues to expand with a security-first approach.
Litecoin is a project built purely with the aim of parasitize on the ideas of Bitcoin. Something new in this area, he did not bring, which is why I do not see the point of it at all as a possible investment.