Gemini Ads Support for Zcash, Litecoin, and Bitcoin Cash

The Winklevoss twins founded exchange Gemini, has added support for ZCash, Bitcoin Cash and Litecoin. This is an extremely important announcement considering that Gemini is one of the first regulated exchanges in the US.

The decisions was approved by the New York Department of Financial Services (NYDFS) and Gemini has started to accept deposits of Zcash - the privacy focused currency - on May 19th at 9:30am EDT.

The primary benefit of Zcash is that it protects users’ privacy with a technology known as zk-snarks, this anonymises the information of the two parties involved in the transaction.

Cameron Winklevoss, Gemini president explained in a letter:

“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.”

Gemini Ads Support For New Cryptocurrencies

On top of this Gemini also received approvals for Bitcoin Cash, and Litecoin, the 4th and 6th most important virtual currencies in the cryptocurrency market. Currently there is no information about when these currencies might go live on the Gemini Exchange.

Zcash (ZEC), is currently 23rd most traded cryptocurrency by market capitalization, with $1.25 billion dollars. It is currently trading at a 26% increase in the last 24 hours, currently at $320 dollars per coin. Back in January Zcash was trading over $800, and reached its lowest drop in April when it reached $175 per coin.