New York-based cryptocurrency exchange Gemini has officially announced it is adding Litecoin trading and custody support.
The exchange had already revealed during the Litecoin Summit last month that it planned to support LTC starting Saturday, Oct. 13, and today it clarified that this date is when investors will be able to deposit the asset into their accounts.
The exchange, which is run by Cameron and Tyler Winklevoss, revealed that it will start offering the following currency pairs:
Actual trading of Litecoin, however, will not start until 9:30am EDT on Oct. 16.
We are pleased to announce that @litecoin (LTC) is now available on Gemini! Starting tomorrow, we will begin accepting Litecoin deposits, and trading will open across all currency pairs on Tuesday. For more information, please visit our blog on @Medium https://t.co/it5xuF9Hr5
— Gemini (@GeminiTrust) 12 October 2018
Eric Winer, Gemini’s vice president of engineering, wrote in the blog post that the exchange had collaborated with the New York State Department of Financial Services (NYSDFS) to obtain approval so that Gemini could offer both custody and trading of litecoin.
Separately, Winer said Gemini originally intended to announce support for Bitcoin Cash (BCH) as well, however “uncertainty” around one or more hard forks which may occur mid-November meant the exchange had shelved those plans for now.
“Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash,” explained Eric Winer, adding:
“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.”
Customers may still see “coming soon” graphics on bitcoin cash-related pages on the Gemini platform as a result.
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