Gemini, a crypto-exchange and custodian owned by Internet entrepreneur twins Cameron and Tyler Winklevoss, announced support for Bitcoin Cash (BCH) trading and custody service.
The exchange began to accept deposit of Bitcoin Cash into user's Gemini account from December 8, after scheduling the trading to start from December 10.
Gemini said it worked closely with the New York State Department of Financial Services (NYDFS) to obtain approval to offer Bitcoin Cash trading and custody services for its customers. Earlier in October, the NYSDFS had approved trading of cryptocurrency Litecoin (LTC) on the Gemini platform.
Bitcoin Cash (BCH) is the fifth digital asset available on the Gemini platform, joining Bitcoin (BTC), Ethereum (ETH), LTC, and Zcash (ZEC). The exchange is also offering five new trading pairs and services - BCH/USD, BCH/BTC, BCH/ETH, LTC/BCH and ZEC/BCH.
Bitcoin Cash, a fork of the Bitcoin network, was recently in controversy after it was forked into two distinct networks and blockchains - Bitcoin ABC and Bitcoin SV. Gemini is currently only supporting Bitcoin ABC network by referring to it as Bitcoin Cash with ticker BCH.
Gemini warned that any cryptocurrency sent to Gemini over a blockchain that is not supported by it, such as Bitcoin SV (BSV), will be invalid and irrecoverable.
Separately, Gemini announced the launch of its mobile crypto trading app. The Gemini Mobile App can be downloaded from the Apple App Store or from the Google Play Store.
The app allows users to buy and sell cryptos, as well as monitor real-time and historical crypto market prices for BTC, ETH, LTC, BCH, and ZEC. The user can buy and sell cryptos as well as send and receive cryptocurrency on the go.
In October, Gemini had secured insurance coverage for digital assets held on behalf clients in their online hot wallet. The insurance coverage is provided by a global consortium of industry-leading insurers and arranged by professional services firm Aon, which provides risk, retirement and health solutions.
Earlier in September, Gemini had launched a U.S dollar-backed regulated stablecoin called "Gemini dollar," which was backed by the NYDFS. This was following a rejection from regulators for its proposed Bitcoin exchange-traded fund (ETF) for the second time in July.
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