Gemini Announces Support For Compound, Pax Gold, and Amp

The New York-based cryptocurrency exchange Gemini has listed three digital assets from the decentralized finance (DeFi) industry. On Friday, the major digital currency exchange announced to add support for COMP the governance token of the Compound protocol, Pax Gold (PAXG), and Amp (AMP). The deposits of these three assets had started on the day of the announcement on September 11, 2020.

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Gemini adds three DeFi coins

The Winklevoss brothers’ owned Gemini has announced the addition of three more digital currencies to its trading platform. The exchange is now accepting the deposits of COMP, PAXG, and AMP at the moment. However, the trading of these assets is set to start on September 15. After getting listed by various major cryptocurrency exchanges, the Compound’s COMP token is now available on the Gemini trading platform as well.

Gemini has announced to offer USD trading pairs for these coins and will facilitate trading through its ‘ActiveTrader™ platform’. However, trading pairs with other supported fiat currencies will also be available for users on the platform. The cryptocurrency exchange believes that the addition of these new tokens will allow users to interact with the cryptocurrency ecosystem in a new way.

Gemini works with New York’s regulators for this listing

In order to list these coins on its trading platform, the cryptocurrency exchange had to work with New York’s regulatory authority New York State Department of Financial Services (NYSDFS) and received regulatory approval from the regulator for this listing. The exchange said that it was the right step to work with New York’s regulator. According to the exchange:

“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 and we look forward to continuing to bring mission-oriented projects to you in the future.”

By adding COMP, PAXG, and AMP, the total number of supported cryptocurrencies on the platform of the Gemini exchange has now increased to 12. These include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Brave’s Basic Attention Token (BAT), and some others.

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