Genesis Records $425 Million in Crypto Loans in Q1

NEW YORK, April 25, 2019 /PRNewswire/ -- Genesis, an industry pioneer and leader in digital currency trading and lending, today released its Digital Asset Lending Snapshot for the first quarter of 2019. Genesis originated a total of more than $425 million in loans and borrows in Q1. Total active loans increased to $181 million at the end of the first quarter, a 17% uptick from the end of 2018. In total, Genesis has originated $1.53 billion since launching the lending business in March 2018.

The Genesis loan portfolio continued to be dominated by Bitcoin, with 68% of the overall composition, up from 63% in Q4 2018. Lending in ETH declined from 6.9% to 3.6% while LTC lending increased to 3.6% from 1.1% in Q4. XRP lending declined slightly, from 7.3% to 6.7%. USD lending remained strong in the quarter, representing 10% of Genesis's active loan portfolio following the launch of the cash financing business launched in Q4 2018.

"It is promising to see increased access to financing in the marketplace, which we believe fosters greater liquidity and market efficiency," said Michael Moro, CEO of Genesis. "Genesis's lending business has expanded with market demand and today we can lend meaningful volume in most of the 30 largest digital assets. We expect to see sustained growth in the lending market as crypto prices have rallied and new lending participants enter the market."

To read the entire Digital Asset Lending Snapshot, click here.

A broker-dealer registered with the SEC and FINRA, Genesis facilitates trades for institutional investors and high net worth individuals looking to buy or sell large sums of digital. Genesis provides liquidity to its trading partners, same-day settlement, 24/7 trading, and deep institutional expertise developed from trading billions of dollars in digital assets since entering the industry in 2013.

Genesis is a wholly-owned subsidiary of Digital Currency Group. In addition to Genesis, DCG is the parent company of Grayscale Investments, the largest asset manager in the digital currency industry, and CoinDesk, a leading media and events company, and is an investor in more than 140 companies around the world.

About Genesis Global Trading

Genesis Global Trading is a worldwide leader and established partner in over-the-counter digital currency trading, providing deep pools of liquidity to institutional investors and high net worth individuals. A broker-dealer registered with the SEC, FINRA, and the New York Department of Financial Services, Genesis is an industry pioneer and market maker that has facilitated billions of dollars in transactions since 2013. Genesis continued to trailblaze with the launch of Genesis Global Capital in March 2018 to provide institutional lending services for digital assets.

For more information on Genesis, please visit genesistrading.com and follow on Twitter @GenesisTrading.

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