On Thursday, June 14, regulated cryptocurrency exchange Itbit announced that it has received approval from the New York State Department of Financial Services to add more cryptocurrencies to its product offerings. The company will begin offering custody, escrow, OTC trading, and exchange services for BCH, ETH, LTC, and XLM, in addition to its existing BTC offerings. Previously only BTC products were available.
«By gaining this regulatory approval, we are now able to open the doors for individuals and institutions to access crypto assets beyond just bitcoin», – said Andrew Chang, Itbit COO.
Itbit became the first bitcoin exchange to be granted a banking license by the NYDFS in May 2015. The license allows the exchange to operate in all 50 USA states under the New York banking laws.