Winklevoss Crypto Exchange Wins Approval to Trade Zcash

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The Winklevoss twins Gemini electronic money exchange became the first in NY to be given a permit to trade the solitude focused cryptocurrency zcash. Alongside the news, Gemini announced support for trading zcash on Monday. Starting from May 19, Gemini users will have the ability to start depositing zcash in their accounts, the exchange said in a site statement. Trading will begin on May 22. Gemini will be offering 3 new pairs for trading the cryptocurrency: ZEC/USD, ZEC/BTC and ZEC/ETH. VP of technology at Gemini, Eric Winer, stated in the article: . We’ve been working closely with the NY State Department of Financial Services to receive Approval to provide Zcash trading and custody services to our clients as a NY trust business.” .

DFS Superintendent Maria T. Vullo licensed Gemini on Monday to provide custody services and trading of zcash, litecoin and bitcoin money, describing them as emerging cryptocurrencies.” . This action carries on New York’s longstanding commitment to innovation and leadership in the worldwide market, Vullo said in a release. Gemini first received their Trust Charter from the DFS back in October 2015, permitting it to run an electronic money exchange at the U.S. State. Gemini can start Zcash trading instantly, subject to ongoing supervision by the state, the NY State DFS said. With the news, Tyler Winklevoss, Chief executive officer of Gemini, stated in the DFS release: We’re Proud be the first licensed exchange in the world to provide Zcash trading and custody services and anticipate supplying clients with a safe, secure, and controlled place to purchase, sell, and store Zcash, an extraordinary new form of digital money.” . NY image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet which tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
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