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Genesis Increases Loan Issuance Over Twofold In Q3
Summary: Genesis, a crypto lending platform, more than doubled its loan issuance between the second and third quarters of 2020, moving from $2.2 billion in Q2 loan issuance to $5.2 billion in Q3, according to its Q3 report. Notably, the loan issuance increases were predominantly in USD and altcoins (especially ETH), not in BTC, as BTC ...
Genesis, a crypto lending platform, more than doubled its loan issuance between the second and third quarters of 2020, moving from $2.2 billion in Q2 loan issuance to $5.2 billion in Q3, according to its Q3 report. Notably, the loan issuance increases were predominantly in USD and altcoins (especially ETH), not in BTC, as BTC loans actually decreased by almost 10%. Other Q3 increases for the platform included an over 47% increase in unique lenders; an increase in USD and BTC supply from bank loans; and increases in spot and derivatives trading.
After its Q3 boom, Genesis has now issued a total of $13.6 billion in loans since its launch in March 2018.
By Isaac Goluboff
Tags: altcoin,BTC,Cash,Crypto Lending,Derivatives Trading,ETH,Genesis,USD
Link: Genesis Increases Loan Issuance Over Twofold In Q3 [Copy]
