The famous exchange founded by Tyler and Cameron Winklevoss, Gemini, has added support for Zcash, Bitcoin Cash and Litecoin. This is a very important announcement due to the fact that it is one of the first regulated exchanges in the United States.
Gemini Bitcoin Exchange Supports New Currencies
The decision has been approved by the New York Department of Financial Services (NYDFS) and the exchange will start accepting deposits of Zcash – the privacy focused cryptocurrency – on May the 19th at 9:30am EDT. 
At the moment, the exchange serves customers in 48 different US States and other countries, including Puerto Rico, Canada, Hong Kong, Singapore, South Korea and the United Kingdom. The first day of trading will be on May the 22nd at 9:30am EDT.
Zcash is a cryptocurrency that uses encryption to protect the information of the transactions. The cryptocurrency was launched back in 2016 by Zooko Wilcox, a computer security specialist from Arizona.
The main benefit of Zcash is that it protects users’ privacy with a technology known as zk-snarks, hiding the information of the sender and the recipient. The payments are verified without revealing any confidential detail of the transaction.
In a letter from Cameron Winklevoss, Gemini president explained:
“Our approval makes Gemini the first licensed Zcash exchange in the world. It also makes the NYDFS the first regulatory agency in the world to supervise Zcash.”
Moreover, the NYDFS confirmed to Forbes that the exchange will be receiving the approvals for Bitcoin Cash, and Litecoin, the 4th and 6th most important virtual currencies in the market. At the moment there is no information about when these currencies might go live.
Zcash (ZEC), is now the 23rd most important cryptocurrency by market capitalization, with $1.25 billion dollars. It is now registering a 26% increase in the last 24 hours and is being traded around $320 dollars per coin. Back in January Zcash was traded over $800 dollars, and reached its lowest point in months in April when it touched $175 dollars per coin.
