Crypto exchange itBit started working with 4 new cryptocurrencies in New York
ItBit Cryptocurrency Exchange Receives New York State Department of Financial Services (NYDFS) Approval for then, to provide custodian and trading services for 4 new cryptocurrencies. About this writes CoinDesk.
According to the press release, itBit will now provide custodian services, as well as OTC trading services, not only for bitcoin, but also for Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Stellar Lumen (XLM). Exchange trade these cryptocurrencies will be added later.
ItBit became the first exchange to received license NYDFS to carry out crypto exchange activities in accordance with the banking law of New York, which sets new standards for the operation of crypto exchanges in New York State.
As for the relationship between itBit and NYDFS, according to words Cascarilla, NYDFS’s perspective on the crypto ecosystem-assets was very progressive “. is he also looking forward to the “continuation their cooperation in future”.
In 2016 year the company underwent a rebranding, changing its name to Paxos, but the itBit brand remained and now stands exclusively for the exchange business. Company itBit is still functional in quality separate from other firms and focused on projects like Bankchain related to private blockchain.
The itBit crypto exchange offers a large set trading services, therefore sees the extended license as “a way to open the door to retail and institutional investors not only to bitcoin, but also to other crypto-assets “, – stated in a press release by Andrew Chan, COO itBit.