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Genesis Trading launches new service for investors

Genesis Global Trading Inc., a major institutional market maker for digital currencies, has started a lending business.

28.Feb.18 1:56 PM
By Daria Zaytseva


Genesis Trading launches new service for investors

The new subsidiary, Genesis Global Capital, will allow investors and businesses to borrow $100,000 or more in cryptocurrencies for fixed periods ranging from two weeks to six months. Credits will be issued in bitcoin, ether, ether classic, XRP, bitcoin cash and zcash.

The company suggests that investors could use their credit facilities to "hedge total portfolio risk or take speculative short positions", but also provide for other options for using the service.

One of such examples, the company explained, could be issuing companies that "need to make immediate calculations for their customers, but do not want to buy a large balance of bitcoin and keep this risk in their books."

Genesis Capital has already attracted well-known customers such as BlockTower Capital, an existing client of the parent trading company, and DV Chain, a crypto trading company.

CEO of DV Chain Garrett SEE, believes that since most of the trading volume in several cryptocurrencies was denominated in bitcoin, that had created a need for a bitcoin lending market.

Genesis's transition to crypto lending is the latest addition to institutional services in the market, which has also recently seen the launch of bitcoin futures trading and increased interest in bitcoin exchange-traded funds.

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