A Cryptocurrency Loan Firm, Genesis Global Trading has traded $550 Million in the first six months of this year 2018.
According to the report, published by Genesis to provide insight into Q3 financial information. The firm started its loan operations since March and until now they have an immeasurable growth in their financial report.
Until today the firm has $130 Million USD in Active Loans outstanding. And $226 Million USD in Borrows, $327 Million USD in total loans. They have an overall cash flow of $553 million USD from all their business.
Their website says,
[ctt template=”7″ link=”U9A0D” via=”yes” ]Since launch, we have seen more than half a billion dollars flow through our lending desk across nearly a dozen digital assets and 60+ institutional counterparties around the world.[/ctt]
At Genesis, their clients are hedge funds, trading firms and even companies using digital assets. At the start, Hegde funds had been dominating the market but now other trading firms are also at coming up.
The fall in cryptocurrency prices has no much effect on the business of Genesis as they have “steadily grown” this year.
In the third Quarter, 50 percent of their loans is represented By BTC. And 25 percent is ETH and other 25 percent is the remaining assets. BTC loans have grown over the quarter.
The firm is looking forward to an increased growth in quarter four. Because trading firms have been seeing increased opportunity in digital assets loans. Thus let us see on their upcoming updates.
What do you think of the Cryptocurrency loan market? let us know in the comment below.