Gemini Exchange has listed XTZ, the native token of Tezos blockchain network, for trading. Custody services for Tezos (XTZ) on Gemini Custody will not be available.
Gemini, a New York-based regulated cryptocurrency exchange and custodian, announced the news in a blog post on Wednesday, July 21st. According to the announcement, deposits for XTZ coin are now open, with trading to follow soon.
Trading for XTZ will first open on Gemini’s FIX/REST APIs and Gemini ActiveTrader, a high-performance crypto trading platform by Gemini that delivers professional-level experience, for USD trading pairs. “Trading will then open on our Gemini Mobile App and website for USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs,” reads the announcement. Gemini noted that XTZ would not be supported on Gemini Custody for custody services.
With the addition of XTZ, Gemini now supports trading for 45 crypto assets with Gemini custody offering custody services for 14 assets.
Tezos is an open-source Liquid Proof of Stake (POS) blockchain network. The Tezos ecosystem is growing at rapid pace. Recently, the Tezos network has reached over 10 million contract calls. According to CoinMarketCap, XTZ is currently ranked at number 43 with a market of over $2 billion.
— Tezos Commons (@TezosCommons) July 21, 2021
Gemini’s announcement reads:
“With support for XTZ, we are delighted to provide Gemini users with access to one of the most vibrant crypto ecosystems. With a dynamic community, smart contract functionality, and a robust on-chain governance mechanism that enables on-chain upgrades, Tezos prioritizes innovation to further enable sustainability and scalability as crypto adoption growth continues across the globe.”
Many DeFi, NFT, and other innovative projects are now leveraging Tezos technology and many more coming. Most recently, TADA, the world’s first blockchain-based ride-hailing service operated by Singapore-based MVL Foundation, partnered with TZ APAC to develop its data business with hybrid blockchain technology, utilizing both Hyperledger Fabric and the Tezos public blockchain. As reported, McLaren Racing, the famous British motor racing team, has partnered with Tezos to create a non-fungible token (NFT) platform across Formula1, INDYCAR, and esports.
Granada Upgrade is Coming in August
According to a Wednesday announcement, Tezos 7th protocol upgrade Granada will be activated in August that will feature faster block times (30 seconds from 1 minute), gas optimization, and liquidity baking.
The 7th protocol upgrade for #Tezos will activate in August after reaching Quorum — This upgrade features faster blocks (30s), gas optimizations, and Liquidity Baking
— Tezos Commons (@TezosCommons) July 20, 2021
Granada will be the 3rd protocol upgrade to Tezos in 2021. On February 13th, the Tezos Blockchain network underwent its 5th upgrade called Edo. On May 11th, 6th and 2021’s second upgrade Florence went live at block number 1,466,369. Granada will be 7th upgrade to Tezos in the span of about of two years.
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