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Cryptocurrency Trading Platform ItBit Gets Regulatory Approval to List Ethereum, Litecoin, Stellar Lumens and BCH

ItBit Gets Regulatory Approval to List Ethereum, BHC, Stellar and LTC
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ItBit, a crypto token buying and selling platform, has gained approval from the New York State Division of Monetary Products and services (NYDFS) to supply buying and selling and custody products and services for Ethereum (ETH), Litecoin (LTC), Stellar Lumens (XLM) and Bitcoin Money (BCH). ItBit will get started with providing custody, escrow and over the counter buying and selling products and services for those new belongings, with platform trade buying and selling to observe.

The 4 cryptocurrencies sign up for Bitcoin which ItBit has been providing since inception. The corporate now gives 5 of the 10 biggest crypto belongings, representing two-thirds of the whole crypto asset market. “We plan to proceed so as to add extra belongings within the close to time period,” ItBit’s CEO Chad Cascarilla informed CoinJournal.

ItBit will likely be including further merchandise and capability within the close to time period.

“We’ve got a complete product roadmap with one of the close to time period priorities round collateral products and services, upgraded buying and selling engine and order varieties to further crypto belongings,” Cascarilla added.

In a remark, Cascarilla stated that the approval from the NYDFS used to be “crucial milestone for ItBit as we create a broader platform for crypto asset buyers.”

“We’re dedicated to the expansion and evolution of this ecosystem and NYDFS approval permits us to supply extra buying and selling and custody products and services throughout a much wider vary of crypto belongings,” he stated. “Regulatory oversight and safety have at all times been at the leading edge of establishing our platform. We’re delighted so that you can be offering those new products and services to our consumers.”

Andrew Chang, COO of ItBit, stated the approval will permit the corporate to carry those fashionable crypto tokens to the wider target audience.

“By way of gaining this regulatory approval, we are actually in a position to open the doorways for people and establishments to get entry to crypto belongings past simply Bitcoin,” Chang stated. “This can be a important second that may permit larger participation in those belongings in a regulated and protected way.”

Based in 2012, ItBit used to be the primary agree with corporate to obtain approval from the NYDFS to supply buying and selling and custody products and services for crypto belongings. It claims to be the second one biggest US-based Bitcoin buying and selling platform by way of quantity. ItBit has places of work in New York and Singapore and is sponsored by way of RRE Ventures, Canaan Companions, Liberty Town Ventures and angel buyers together with Jay W. Jordan II and James Pallotta.

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