Crypto OTC Broker Genesis Processes $553 Million in Institutional Lending in Six Months

Over Half a Billion Dollars Processed Through Genesis Global Trading Loan Spin-off Within First Six Months

A new report on October 18th revealed that Genesis Global Trading has been experiencing a substantial 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 began in March, and the company still has $130 pending in outstanding loans in the current order book. In a summary from the company, they said,

“Over the past year, through client feedback and the rise of derivative marketplaces, we saw a meaningful increase in the number of market participants wanting to borrow and/or lend digital currencies.”

With the trends since the creation of the spin-off project, there have been some loans seeing more action than others. Ethereum has seen a significant reduction in loans, with the popularity shifting instead to other altcoin assets in the third quarter. However, Bitcoin has managed to keep a “consistent” performance throughout. The report added,

“Specifically, [Litecoin, Ripple, Ethereum Classic] and Bitcoin Cash (BCH) all drew higher demand while supply constrained, driving rates on most alternative assets higher.”

The trends in the types of loans aren’t the only changing factors here. The clients that end up using the platform are evolving as well. Though hedge funds were originally the dominating force, trading and arbitrage firms have brought in their own business more and more lately. Genesis commented,

“These firms generally borrow digital assets to trade against derivatives like futures and swaps. We believe this kind of activity will continue to pick up as derivative markets mature.”

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.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

Digital Assets Beat Traditional Assets by a Wide Margin & Ethereum Outperforms Bitcoin

In 2020 to date, Bitcoin has seen a positive performance of 80% and Ethereum 217%. With these gains, digital currencies are leading this year, with...

Filecoin Miners Will Receive 25% Of The FIL Rewards Immediately After A Successful Network Upgrade

Filecoin (FIL) miners set to receive 25% of their rewards instantly for miners that successfully activated the FIP-004 protocol at block number #170,000. Given...

PayPal Exploring Acquiring Crypto Companies, Already in Talks with Bitcoin Custodian BitGo

PayPal is now exploring acquisitions of crypto companies, including bitcoin custodian BitGo, reported Bloomberg. This week, Paypal announcing support, buy, sell, and hold for cryptos...

Bitcoin Is Having A “Sell-Side Liquidity Crisis,” As BTC Buyers Outweigh the Sellers

After an explosive start of the week that took us to a 13-months high of $13,300, Bitcoin is taking a breather just under $13,000. Interestingly,...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today