GEMINI Exchange adds Bitcoin Cash and Litecoin soon.
Cameron and Tyler Winklevoss reported that they intend to increase the number of cryptocurrencies presented on their Gemini exchange in 2018. Bitcoin Cash and Litecoin are the possible contenders.
Famous brothers made this statement this Thursday, on March, 8 at Cboe Risk Management Conference. Cboe uses data of the Gemini Exchange rates in its contracts with bitcoins. It has stated its intention to offer futures contracts on more cryptocurrencies, but they think they need the help of Gemini to reach this goal. Currently, Gemini exchange supports only Bitcoin and Ethereum.
“You look at the entire crypto space and you look at what other products have the liquidity and the notional size, a derivative makes sense,” Chris Concannon, Cboe CEO stated earlier.
Tyler Winklevoss said that the deal with Cboe is scalable. When they signed the agreement, they have already known it would expand in terms of offerings. This explains why Gemini plans to add Litecoin and Bitcoin Cash on the exchange.
Obviously, the candidates for listing are Bitcoin Cash and Litecoin. Tyler said that they “are from the Satoshi Nakamoto family tree”. The listing of these 2 coins will help to catch up one of the main competitor- Coinbase. Besides this listing play into the hands for both exchanges. When Coinbase added coins, its prices increased sharply.
The Gemini founders also stressed that adding new cryptocurrencies to the trading list will increase the attractiveness of the exchange for investors. They noted that they were “applauding” the recent statement by the US Securities and Exchange Commission that cryptocurrency exchanges platforms have to register as a national exchange with the SEC in order to protect investors from frauds.
Gemini exchange is licensed and regulated by the New York State Department of Financial Services (NYSDFS) under its “Bitlicense” laws.
The twins also stressed that they are not worrying about the recent depreciation of Bitcoin. It happened many times and the long-term trend is moving in the right direction.
We remind, that today Bitcoin lost 7% and trading at $9000.