Litecoin Trading will go live today at 9:30 EDT on Gemini, the final frontier and last major crypto exchange. In turn propelling Litecoin into an exclusive club of only three crypto assets with such market support.
Litecoin will be paired against all other assets on the platform for continuous trading and block trading. However for Gemini’s daily auctions Litecoin will only be paired with the US dollar:
Gemini has been at the forefront in the promotion of cryptocurrency to the traditional finance sector working closely to advance the adoption of the technology. This included the partnership with CBOE last year when they launched futures trading for bitcoin and the multiple exchange trade fund (ETF) attempts to allow traditional large-scale institutional investors to safely invest into the space.
Gemini is headed by the Winklevoss twins, Tyler and Cameron who have been early adopters and evangelists of Bitcoin purchasing $11MM worth of the currency back in April of 2013 making them the first public Bitcoin Billionaires. According to a source close to the brothers they currently hold 1% of all bitcoins in circulation.
“Gemini is the world’s most regulated cryptocurrency exchange and custodian, held to the highest standards of banking compliance and fiduciary obligations, and overseen by the New York State Department of Financial Services (NYSDFS). The addition of Litecoin further solidifies Gemini’s standing as the go-to exchange for retail and institutional investors alike. Gemini continues to grow with a “security-first” approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets.”
- Eric Winer Gemini VP Engineering