The Bitcoin Exchange Gemini has announced that it is adding cryptocurrency Ethereum to its platform and users can begin trading on Monday, May 9, 2016.
In an announcement made today, New York Governor Cuomo said that the New York State Department of Financial Services has given approval to the Gemini Trust Company to offer the trading of Ethereum (Ether) on its virtual currency exchange based in New York City.
“This action continues New York’s long tradition of pioneering new innovations and emerging industries,” said Governor Cuomo. “With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience.”
The Gemini Trust Company, LLC which was founded and operated by Tyler and Cameron Winklevoss, launched in October 2015. Gemini applied for and was granted a charter to operate as a virtual currency exchange in the state of New York, one of the few exchanges operating in the state due to its aggressive Bit License regulations.
On the Gemini blog Cameron Winklevoss, Co-Founder and President at Gemini, stated:
When we began building Gemini almost two years ago, we envisioned a platform that would allow customers to trade digital assets in addition to bitcoin. Over the past six months, ether increasingly became a credible candidate for inclusion on Gemini. The Ethereum protocol’s unique features and the wide range of applications being developed by the Ethereum community, along with increased liquidity and market cap, have made ether an obvious addition to the Gemini trading platform.
Gemini will be offering ETH/BTC and ETH/USD trading pairs on two new order books. Users can begin transferring and storing their Ether right away in preparation for next weeks trading. Trading will begin on Monday, May 9, 2106 at 9:30 AM EDT