Genesis Capital processed over $1.1 billion in 2018

Genesis Capital, an affiliate of Genesis Global Trading, offers institutions the ability to borrow and/or lend bitcoin and other digital currencies. According to Genesis Capital’s first Digital Asset Lending Snapshot, the cryptocurrency lending firm processed over $1.1 billion in 2018.

Since March 2018, Genesis Capital launched its lending business. At the end of Q3 2018, the company has processed more than $500 million. At the same time, the company introduced the development market for OTC digital asset lending.

With significant growth in their portfolios, Genesis Capital added $500 million in Q4 alone, making the total amount in 2018 to $1.1 billion. At the same time, the company also introduced fiat currency lending in the Q4 2018.

Source: Digital Asset Loan Snapshot

With regard to asset composition, Genesis Capital's loan portfolio heading into Q4 was consisted of 60% BTC and 40% Alt-coins, with XRP accounts for nearly 50% of alt-coins. At the same time, ETH borrowing has more than doubled since Q3, but only accounted for about 10% of the company's loan book.

Source: Digital Asset Loan Snapshot

According to Bitpush, XRP was up 10.13% at $0.32 at 6:30 p.m. Eastern Time, outperforming TRX with its best daily performance among the top 20 cryptos.

Meanwhile, cryptocurrency bank Galaxy Digital recently claimed to raise at least $250 million fund for crypto firms, with an expected completion date of its first round of financing in March.

Genesis Global Trading, the over-the-counter digital currency trading firm, was launched in 2013. Genesis then launched the industry’s first institutional lending business to complement the existing OTC business on March 1, 2018. Other Genesis Capital’s affiliated companies include Digital Currency Group and Grayscale Investments.

Photo: Pixabay

Author: Nicole Wei

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