Genesis, BitGo Team Up to Ease Crypto Trading for Institutions
BitGo and Genesis Global Trading are targeting Wall Street institutions with a new high-speed crypto trading service.
For the first time this year, BTC-denominated loans now represent less than 60 percent of Genesis' portfolio.
The digital asset IRA company will offer interest on cryptocurrency and cash holdings that customers want to lend out.
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.
Digital currency trader and lender Genesis expanded its trading and research capabilities by acquiring New York-based quantitative investment firm Qu Capital.
Genesis Global Trading's lending business remains on a growth tear, especially its loans of dollars and stablecoins.