Gemini Adds Support for Bitcoin Cash Trading and Custody on the ABC Network
Gemini, a major cryptocurrency exchange and custodian, recently announced it launched support for Bitcoin Cash on the ABC blockchain.
Cryptocurrency exchange Gemini announced support for Bitcoin Cash (BCH) custody and trading today with a post on its official Medium blog, Dec. 8. Gemini, which is based in the United States, was founded in 2015 by the Winklevoss brothers.
The exchange pointed out that, at the moment, it will “only be providing support for the Bitcoin ABC network” which is identified on the platform as “Bitcoin Cash with ticker: BCH.”
Gemini declared that they “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.”
In order to ensure legal compliance, the company, which claims to be the world’s most regulated cryptocurrency exchange and custodian, reportedly “worked closely with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Bitcoin Cash trading and custody services.”
Bitcoin SV and Bitcoin ABC are the two blockchains that contended for the Bitcoin Cash name after a controversial hard fork. What was often referred to as a “war” in the crypto community ended when Bitcoin SV backer and billionaire entrepreneur Calvin Ayre declared that the chain no longer wants the Bitcoin Cash name, as Cointelegraph reported Nov. 24.
In October, Gemini gained regulatory approval to offer trading of major cryptocurrency Litecoin (LTC). Gemini’s vice president of engineering Eric Winer noted Gemini’s thoroughgoing “banking compliance and fiduciary obligations” under oversight from NYDFS. He stated that Litecoin trading support came as the result of close cooperation with regulators, and that the exchange is approaching new assets with a “security-first” approach.