Genesis Global Trading has been honored to be the first trading company to be granted a state trading license. The trading company mainly focuses on buyers and institutional sellers. This platform provides access to block size liquidity for high net worth individuals and institutions interested in buying and selling crypto currency.
The New York Financial Services Department approved the request and gave them BitLicense according to the official announcement of the trading company. Litecoin (LTC) and Ripple (XRP) among several other coins have been approved to be the first digital assets to be traded on net high-value exchanges.
BitLicense provides Genesis Global Trading the power to offer a digital asset sale and purchase service, Bitcoin (BTC) that is attached to its institutional partners. Prior to this license, Genesis Global Trading operates in a 'safe harbor' using DFS that allows trading of crypto currencies to occur. The exchange service has been tailored to meet the needs of institutional clients and individuals with high net worth.
These clients buy and sell digital assets in bulk. Some of the services offered by Genesis include a pool of deep liquidity, the settlement of the day, 24 hours 7 days a week of trading services not to forget the experience and institutional expertise coming from several billion dollar trading years primarily in digital assets.
Genesis is registered with the Securities and Exchange Commission (SEC) and FINRA as a broker-dealer. It is a wholly owned subsidiary of Digital Currency Group (DCG). DCG is a company that has strong roots both in Bitcoin and the blockchain industry that has investments in more than 30 countries around the world. It is also the holding company of Grayscale Investments: One of the largest asset managers in the virtual currency space as well as CoinDesk, which is a leading media and event company.
Trading companies have been approved to offer trading services starting with multiple assets. For example, Genesis Global Trading will start trading with Ethiopia (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Zcash (ZEC) and Ripple coins (XRP) and Litecoin (LTC) previously mentioned.
In other news related to Litecoin (LTC), cryptocurrency can be immediately added to Toshi Coinbase application. The news was delivered by CEO, Charlie Lee, who told the flowers on Twitter