Exchanges

Gemini will add support for COMP, AMP and PAXG

Cryptocurrency exchange Gemini announced that it received permission from the New York State Department of Financial Services (NYDFS) to list crypto assets COMP, AMP and PAXG.

Gemini executives said that from September 15th, traders will be able to trade these digital assets paired with the US dollar through the ActiveTrader platform. Note that, according to the Uniswap decentralized exchange, over the past 24 hours, the AMP trading volume amounted to about $ 206,351, and the total liquidity – $ 788,689. The same indicator of the PAXG stablecoin tied to gold is $ 161,029 on the Uniswap exchange.

As for the COMP asset, it is a project management token and the Compound decentralized lending protocol. According to CoinGecko, the market capitalization of COMP is now over $ 549 million. Despite the “craze” for the decentralized finance (DeFi) industry, which carries certain risks for users, NYDFS has allowed COMP to be listed on the Gemini exchange.

The management of the exchange emphasized that it had taken all the necessary steps to comply with regulatory requirements. Gemini CEO Tyler Winklevoss added that the revolutionary days of decentralized finance are coming and COMP will be the first DeFi asset to be listed on the Gemini marketplace. 

Even if other exchanges have long ago started listing DeFi tokens for trading, Gemini is carefully selecting crypto assets for listing, according to Winklevoss, working closely with regulators. For example, Coinbase was one of the first exchanges to list COMP, but New Yorkers are not allowed to trade this digital asset.

Recall that NYDFS presented a list of cryptocurrencies allowed for storage and listing on exchanges. These include BTC, ETH, BCH, LTC, BUSD, GUSD, PAXG, PAX, XRP, and ETC. The agency clarified that any company that has a BitLicense for conducting cryptocurrency activities in the state of New York can work with these assets.

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