Genesis, an industry pioneer and leader in digital currency trading and lending, today released its Digital Asset Lending Snapshot for Q4 2019. The quarter was the best one yet for Genesis, which originated more than $1.1 billion in loans and borrows for its institutional clients, marking seven quarters of consecutive growth for the firm. Total active loans are up to $545 million, a 23% increase from the third quarter figure of $450 million.
Notably, Genesis’ active loan book and originations increased despite a roughly 14% decline in the price of Bitcoin, as well as other digital currencies, demonstrating a growing interest in the asset class that remains independent of digital currency price movement.
While Bitcoin still attracts the largest amount of interest, the share of USD borrowing continued to climb, reaching 37% of the company’s active loan portfolio in Q4 2019, up from 31% in the prior quarter. In particular, international investors showed strong demand for USD borrowing, which is often translated into demand for stablecoins due to frictions from the traditional banking sector. Cash lenders continued to enjoy high yields due to strong global economic conditions, which create a premium on large pools of liquidity.
To read the entire Digital Asset Lending Snapshot, click here.
Genesis facilitates trades for institutional investors and high net worth individuals looking to buy or sell large sums of digital currency. Genesis provides liquidity to its trading partners, along with 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.
Genesis is a worldwide leader in over-the-counter digital currency trading and lending, providing deep pools of liquidity to institutional investors and high net worth individuals. A broker-dealer registered with the SEC and FINRA, and a BitLicense holder with the New York State Department of Financial Services, Genesis Global Trading is an industry pioneer and market maker that has facilitated billions of dollars in transactions since 2013.