A recent report revealed that the cryptocurrency trading company Genesis has been facing a considerable amount of success this year. Within the first six months of starting their loans spinoff project, they managed to process over $553 million. The services started in March and the firm still has $130 pending in unresolved loans in the present order book.
In a summary from the company, they stated that from one year through client feedback and the rise of unoriginal markets, the firm has seen a huge increase in the number of market members wanting to borrow and lend digital currencies. Bitcoin has managed to keep a “consistent” performance throughout. There have been few loans seeing more action than others.
Ethereum has seen an interesting decrease in loans, with the acceptance shifting instead to other altcoin assets in the third quarter. According to the company Genesis, many companies usually borrow digital assets to trade against derivatives like futures and swaps. The company believes this type of activity will endure to pick up as derivative markets mature.
The tendencies in the types of loans aren’t the only changing factors here. The customers that end up using the platform are evolving as well. Though hedge funds were originally the dominating force, cryptocurrency trading and arbitrage firms have brought in their own business more and more lately, as reported in Cointelegraph.
The fourth quarter of the year could bring in at least one major institutional investment opportunity for the public. The Bakkt ecosystem from Intercontinental Exchange is one of the more realistic possibilities, considering their promise to provide physical Bitcoin futures.
About Genesis Global Trading
Cryptocurrency trading company Genesis is an innovator and industry leader in over-the-counter digital currency trading, a recorded broker-dealer that has enabled billions of dollars in trades since launching in 2013. On March 1, 2018, Genesis had launched the industry’s first institutional lending business to complement the existing OTC business. As stated in the Genesis Capital website, through its customer feedbacks from past one year and due to the increase of derivative marketplaces, the firm has seen a meaningful growth in the number of market contributors who wish to borrow and/or lend digital currencies.
The post Cryptocurrency Trading Company Genesis Spin-off Loan By Processing Half A Billion In First Six Months appeared first on OWLT Market.
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