Gemini to Accept Deposits in PAXG, AMP, and COMP

Gemini Crypto Exchange Logo
Gemini Crypto Exchange Logo

Crypto exchange Gemini will be able to accept deposits in PAX Gold (PAXG), Amp (AMP), and Compound (COMP), with trading to start 15 September.

Trading and Custody Support

In other words, Gemini will offer US dollar trading pairs for PAXG, AMP, and COMP via its ActiveTrader platform and API connections, according to Gemini news blog.

With these additional cryptos, the exchange will offer trading support for a total of 12 cryptos. They are: BTC, ETH, BCH, LTC, ZEC, BAT, DAI, LINK, OXT, PAXG, AMP, and COMP.

Furthermore, Gemini will offer custody support for other 13 cryptos. These are: ZRX, BRD, MANA, ENJ, GUSD, GNT, KNC, LOOM, MKR, NMR, OMG, STORJ, and CSP.

Gemini Exploring DeFi Tokens

As the crypto exchange lists its first DeFi token, Gemini co-founder Tyler Winklevoss tweeted:

The #DeFi revolution is upon us. Gemini is now accepting deposits for $AMP, $PAXG, and $COMP. Trading to begin on 9/15!

COMP token’s listing by Gemini marks the official entry of DeFi in New York, which even Coinbase NY users are exempted from.

In a similar vein, many major crypto exchanges have started listing popular DeFi tokens. Coinbase, Houbi, Poloniex, OKEx, and Binance have all listed different DeFi projects.

Regulatory and Security Law

However, there is still no regulatory clarity around the application of securities law on cryptocurrencies.

In fact, Gemini is one of the few cryptocurrency exchanges to obtain a Trust Charter from the New York Department of Financial Services (NYDFS), under the controversial Bitlicense, according to Crypto Briefing.

As such, entrepreneurs are advised to consult the US Securities and Exchange Commission (SEC) before issuing a token.

In the announcement for the three new listings, the press release from Gemini reads:

We have worked closely with the New York State Department of Financial Services to obtain approval to offer trading and custody services for these new assets.

0 0 vote
Article Rating
Share this page
Notify of
Inline Feedbacks
View all comments
Sally ElShorbagy 25 Articles
Sally ElShorbagy is a freelance journalist and translator who currently covers the future of the cryptocurrencies and the digital economy revolution.