Gemini Exchange to Add Zcash, Bitcoin Cash, Litecoin, and Ethereum Classic

contentjunkie (73)in #zcash • 6 years ago

From NewsBTC

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 with the same being extended to Litecoin, Bitcoin Cash, and Ethereum Classic at a later, undisclosed date.
Gemini to be the First Fully Licensed Exchange Offering Zcash
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. According to a report in Forbes, the first day that Gemini users will be able to buy and sell Zcash will be May 22.

One half of the founding team behind the Gemini exchange, Cameron Winklevoss, wrote in a letter that the inclusion of new cryptos was the result of close collaboration with the NYDFS. In his own words:

“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.”

I was wondering today why my ZCash was suddenly worth almost 30% more than yesterday against bitcoin and looks like I've found my answer. This is a major step to solidify the privacy based coin in a regulated world. ZCash should be an interesting coin to watch in the next few months. It's rumored ASICs are already in the wild and ZCash has promised to through a monkey wrench in their gears. As a GPU miner myself I hope they are able to do so soon.