Crypto Lender Genesis Capital Processed Nearly $1.1 Billion In 2018
Institutional crypto loans provider Genesis Global Capital says it processed more than $1.1 billion in lends and borrows in 2018.
A lukewarm U.S. economy is making big banks like JPMorgan Chase struggle to produce fast loan growth - even with interest rates close to historic lows. Yet, in the white-hot cryptocurrency industry, lenders are burgeoning.
For the first time this year, BTC-denominated loans now represent less than 60 percent of Genesis' portfolio.
“As of five minutes ago, everyone who needed to post collateral has,” Genesis CEO Michael Moro said Friday afternoon.
Genesis Global Trading's lending business remains on a growth tear, especially its loans of dollars and stablecoins.
Genesis Global Trading's cryptocurrency lending arm continues to grow, even as the number of short sellers dwindles.