The state of New York has officially granted The Gemini Trust Co. exchange the opportunity to trade Zcash, which turns the company into the very first officially licensed Zcash exchange in the world. Deposits in Zcash will be available on May 19, and the trading will be launched on May, 22.
“We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash,” commented Tyler Winklevoss, the Gemini spokesman.
Zcash is a cryptocurrency known for its privacy-first policy, which is backed by the use of sophisticated cryptography. Moreover, Reuters reports that the New York state’s Department of Financial Services has already allowed Gemini Exchange to conduct transactions in Bitcoin Cash and Litecoin.
Just last month, Gemini along with other crypto exchanges were ordered to hand in detailed information concerning their security practices to the New York Attorney General’s office. While some experts have been praising New York as a crypto haven, others expressed their dissatisfaction with the state’s BitLicense program, describing it as “overly restrictive and too expensive for startups”.