The crypto exchange Gemini has set its eyes on increasing the number of tokens it offers on its platform. The Winklevoss twins have said their aim in 2018 is to expand the exchange to trade other tokens such as Litecoin and Bitcoin Cash.
The crypto giant currently trades Bitcoin and Ethereum only, adding more tokens makes lots of sense given that recently the company partnered with CBOE Global Markets Inc. on providing Bitcoin futures.
The Chicago based exchange CBOE has stated its intention to offer futures contracts on cryptocurrencies other than Bitcoin but they believe they need the help of Gemini to accomplish this goal.
CBOE has an exclusive deal with Gemini that requires the exchange to supply data used to calculate CBOE’s Bitcoin contract. Given that Gemini also offers Ethereum, CBOEcould add it too, but, if they were to spread their wings and target more tokens this would require Gemini to grow its coin list.
Tyler Winklevoss has said the agreement with CBOE is scalable and they entered the deal knowing it would expand in terms of offerings. This explains why they aim to add Litecoin and Bitcoin Cash on the exchange.
He subtly hints that the prime candidates for addition belong to the Satoshi Nakamoto family tree –Litecoin and Bitcoin Cash.
This will increase the exchange’s offerings to the same number as those of its main rival in the US, Coinbase Inc. When this happens expect to seek a rise in the price of both as it was witnessed when Coinbase made the same move.
The twins, Tyler and Cameron were speaking at a CBOE event held in Florida. They say the recent dip in trading volume of Bitcoin doesn’t faze them as it has happened many times in the past. Emphasizing what’s important for now is that the long-term trend of the coin is on the right track.
