Genesis Global Trading, a leading over-the-counter digital currency trader is the first New-York based cryptocurrency trading firm that obtains a BitLicense by the New York Department of Financial Services (DFS), according to a press release published on May 17.
The license allows the digital currency trader to facilitate the trading of many cryptocurrencies including bitcoin.
Genesis Global Trading will also be able to offer Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), and Zcash (ZEC).
Genesis will provide to individuals with large sums of money and corporate investors to buy or sell large sums of cryptocurrencies. The firm gives access to big liquidity to its trading associates, 24/7 trading and expertise learned from trading billions of dollars in digital assets since 2013.
Michael Moro, CEO at Genesis Global Trading said,
“We are very pleased that DFS has approved the Genesis Global Trading BitLicense application. Although we have operated under a safe harbor provision in recent years, today’s decision is an important step forward and reaffirms the robust compliance measures we have enacted as an established trading partner.”
Genesis is a subsidiary of Digital Currency Group (DCG) which works with cryptocurrency and blockchain by investing in companies in more than 30 countries worldwide.