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The Gemini exchange has announced that it will soon be adding support for three new cryptocurrencies. The Winklevoss twin’s trading platform will begin accepting deposits in Zcash on May 19 at 9:30am EDT with trading following shortly on the 22nd. The exchange will be offering ZEC/USD, ZEC/BTC and ZEC/ETH pairings. The inclusion of Zcash to the platform has been approved by the New York Department of Financial Services. This makes it the first regulated exchange that will allow the trading of the privacy-focused cryptocurrency.
“Our approval makes Gemini the first licensed Zcash exchange in the world. It also makes the NYDFS the first regulatory agency in the world to supervise Zcash.” - Cameron Winklevoss
As well as adding support for Zcash, it was announced earlier today that Gemini would also include Litecoin, Ethereum Classic, and Bitcoin Cash. Since all these new additions are forks of either Bitcoin or Ethereum, it should not be difficult from a technical standpoint to integrate them to the platform whilst maintaining the level of security the Gemini exchange prides itself on. Winklevoss actually refers to Bitcoin Cash, Zcash, and Litecoin as being part of the ‘Nakamoto Family Tree’ thanks to their origins stemming from the original Bitcoin code base. Although the NYDFS reported to Forbes that LTC and BCH will be supported in the future, there is not a timeframe set in stone just yet.
With this exciting news being announced one can only imagine what the future may hold for the Winklevoss brothers and cryptocurrencies altogether. This is a big step in the right direction with the possibility of even more digital commodities being added in the coming years. Gemini is definitely an exchange doing a good job of competing with the likes of Coinbase/GDAX for supremacy in USD pairings. Watch this space.
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