Genesis Global Trading Has Loaned out More Than $1 Billion in Crypto
Genesis Global Trading, according to a recent report, a leader in digital currency trading and lending has released a snapshot of its Digital Asset Lending for the fourth quarter of 2018.
The publication shows that the exchange witnessed significant growth in the last four months of the year which included earning $500 million in originations which
Bitcoin Collateral loan is the Largest
According to the press release, the company’s loan portfolio is dominated by Bitcoin which constituted almost 75%. Lending in XRP witnessed a quarter-over-quarter decline from 18% to 9%, while Ethereum loans increased quarter-to-quarter from 4% to 8%.
The Chief Executive Officer at Genesis, Michael Moro said that: “We are very pleased with the strong growth of the lending business and continue to believe that digital asset lending will play an important role in developing this ecosystem,” “We are committed to investing in this business and expanding globally in 2019.” he continued.
The Founder and CEO of BKCM LLC, Brian Kelly also issued a supportive statement that: “The ability to borrow and lend cryptocurrency is an essential step toward the maturation of the asset class,” “As a fund manager, Genesis is an essential part of my tool box.”
Alongside its growth in digital currency loans, Genesis launched a fiat currency lending in Q4 which is a result of the demand from its lending counterparties. With this, digital currency investors who have been around for a long time and have appreciated assets can easily borrow cash using their crypto holdings as collateral.
Genesis is Registered with the SEC and FINRA
As a broker-dealer which is registered with the SEC and FINRA, Genesis is able to make trading possible for high net worth individuals and institutional investors who are looking to buy and sell large amounts of digital currencies.
Some of the services which are being rendered by Genesis