Gemini, the US-based crypto exchange founded by Tyler and Cameron Winklevoss, is listing Zcash, a cryptocurrency whose market cap stands at $1.Two billion, according to Coinmarketcap gegevens. The exchange got approval from the Fresh York Department of Financial Services (NYDFS), which makes it the world&rsquo,s very first licensed exchange to trade Zcash.
Buying and selling the cryptocurrency will be possible spil of next Tuesday (May 22), while Zcash deposits will be accepted from 9:30 EDT on May Nineteen.
&ldquo,Wij are proud to be the very first licensed exchange ter the world to suggest Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash.&rdquo,
Besides signing off on Zcash, the NYDFS has authorized Gemini to provide custody services and trading of Bitcoin Specie and Litecoin . Presently, Bitcoin Specie is the fourth largest cryptocurrency, with a $24.6 billion market cap, while Litecoin ranks sixth with $8.Four billion.
NYDFS Superintendent Maria Vullo stated:
&ldquo,With wise and thorough regulatory oversight, the development and long-term growth of the industry will remain thriving.&rdquo,
Gemini VP Eric Winer stated ter a blog postbode:
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&ldquo,Our approval makes Gemini the very first licensed Zcash exchange ter the world. It also makes the NYSDFS the very first regulatory agency te the world to supervise Zcash, reaffirming their position spil the leading financial regulator ter the area of digital assets.&rdquo,
Gemini voorzitter Cameron Winklevoss explained that Zcash wasgoed appealing thanks to its privacy-protecting feature that enables users to trade without knowing anything about each other.
Zcash operates with two types of addresses called unshielded addresses (t-address) and shielded addresses (z-address). Originally, the exchange will permit deposits from both but will support withdrawals to t-addresses only. The representatives said that Gemini wasgoed working to support withdrawals to shielded addresses spil well.
After the announcement, Zcash surged 40%, from about $250 to $349. On Tuesday, the bullish sentiment persists, with Zcash fluctuating around $358.
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