The Litecoin organization, the team accountable for Litecoin (LTC), announced this week that it will be listed on Gemini, the cryptocurrency conversation founded by the Winklevoss twins.
According to the statement, which came during the recent Litecocin Meeting, LTC will be listed for trading on the exchange on October 13. Gemini presently offers direct U.S. dollar fiat exchange pairs for Bitcoin (BTC), Ethereum (ETH) and Zcash (ZEC), in addition to certified custodian services.
This news came just days after Gemini declared that it has launched the Gemini dollar (GUSD), a new stable coin attached to the U.S. dollar. The company notes that each Gemini dollar resembles to a U.S. dollar that is held at a bank situated in the United States and suitable for FDIC “pass-through” deposit assurance.
LTC is presently ranked 7th in the AltDex 100 Index (ALT100), a standard index for large-cap cryptocurrencies and tokens. In addition to being approved to custody and trade Zcash, the NYDFS has established to Gemini will also receive approvals for Bitcoin Cash, with a market value of $25 billion, and Litecoin, valued at $8.2 billion, though facts about when these currencies might go live continue sparse. In a letter from Cameron Winklevoss, the Gemini president clarified that the addition of the new products was the result of occupied closely with the NYDFS.