• Litecoin hodlers can now start depositing the currency into their Gemini accounts
• Gemini Says Litecoin trading will officially commence on October 16th
• Supported trading pairs include LTC/USD, LTC/BTC, ZEC/LTC, and LTC/ETH

Gemini, a leading licensed digital currency exchange and custodian, has started offering support for litecoin (LTC), the world’s seventh largest cryptocurrency, according to a Forbes report  on October 12th.

Litecoin Goes Live on Gemini Crypto Exchange

The United States-based regulated cryptocurrency exchange, Gemini has reportedly announced support for Litecoin (LTC), the seventh largest crypto project, with a market cap of over $3 billion.

Present at the recently concluded Litecoin summit, Gemini Trust made it clear that it would start supporting the altcoin on October 13, 2018.

In a tweet by the exchange on September 26, 2018, Gemini declared it had also obtained regulatory approval to list Bitcoin Cash (BCH) on its platform but is yet to fix a launch date for the coin which was birthed from a controversial Bitcoin hard fork in August 2017.

According to Forbes, the vice president of engineering at Gemini has said that the New York State Department of Financial Services (NYSDFS), the agency that formulated the controversial BitLicense  regulation, had given Gemini Trust the go-ahead to offer both custodial and trading services to clients.

While LTC holders can immediately start depositing their coins into their Gemini accounts, users of the platform who trade the cryptocurrency will need to wait until Tuesday October 16, 2018 at exactly 9:30am EDT, before they can start trading litecoin on the exchange venue.

Gemini to Offer LTC/USD, LTC/BTC and More Trading Pairs

At current, the Tyler and Cameron Winklevoss-owned cryptocurrency trading venue supports only three significant digital assets and six trading pairs, including bitcoin (BTC/USD), Ether (ETH/USD), and Zcash (ZEC/USD).

With the addition of Litecoin to its product offerings, Gemini Trust has said that its users will be able to trade four major litecoin pairs which are: LTC/USD, LTC/BTC, ZEC/LTC, and LTC/ETH.

Gemini Trust Contributing its Bit Towards Global Crypto Adoption

While there are hundreds of cryptocurrency trading sites currently in existence, only a handful of these money-making machines strive to conduct their businesses in strict compliance with best practices in the cryptospace.

As reported by Blockchain Reporter  on October 5, 2018, Gemini Trust obtained insurance cover for its clients’ funds stored on its hot wallet, to cushion the effect of any unforeseen circumstances on investors.