A major US digital asset exchange will soon list Zcash, one of the world’s most privacy-centric cryptocurrencies.
On May 14, 2018, the New York State Department of Financial Services (DFS) announced[1] that it "authorized" Gemini Trust Company LLC, to "offer the custody services and trading of Zcash, Litecoin, and Bitcoin Cash." While DFS permitted Gemini to launch Zcash (ZEC) trading immediately, the Litecoin (LTC) and Bitcoin Cash (BCH) approvals are for "potential future offerings."
When Does Zcash Actually Start Trading?
According to Gemini's blog[2], customers will be able to deposit ZEC holdings from shielded[3] or unshielded addresses into the exchange starting on Saturday, May 19, at 9:30 a.m. ET. Gemini's ZEC trading services will begin exactly three days later, on Tuesday, May 22. Initially, the exchange will "only support withdrawals to unshielded addresses," but the company is "working to support withdrawals to shielded addresses in the future."
What Sort of Trading Support Will Gemini Offer?
The exchange plans to support continuous trading[4] between the ZEC/USD, ZEC/BTC, and ZEC/ETH trading pairs (this is the 24/7 order book trading[5] familiar to most cryptocurrency users). Gemini also plans to support block trading across the same three trading pairs.
Note: Readers may remember that the exchange introduced its block trading service just last month. The platform connects buyers and sellers of large quantities of digital assets.[6]
Source[7]
As the exchange does with its bitcoin (BTC) and Ether (ETH) auctions, Gemini will only support the USD trading pair for its 4:00 p.m. ET daily ZEC auction. The exchange has supported daily bitcoin auctions since September 2016 and daily
