Institutional cryptocurrency OTC [over-the-counter] broker GenesisTradingdisclosedits loans processed over half a billionUSDin itsinitialsix monthsin a recent official report.Genesis,thatbegan its digitalassetloaningactivities earlier in March,disclosedits current order book consists of $130 Mln in outstanding loans, a figurethathas “steadily grown” sincebeginning, the company added.
Totalcash flowreached $553 million for all supported assets. While adding further the corporate sumarized its motivation mentioning:
Over the past year, throughconsumerfeedbackand therefore along with therise ofderivativemarketplaces,we saw a hikewithin therangeof market participantseager toborrow or lend their digital assets.
Trends over its primary halfof a year’scommercecomprisesa discountin Ethereum [ETH] loansalong with therise inthe stardumof loans inalternativealtcoin assets in Q3, with Bitcoin [BTC] staying “consistent” throughout.
“Specifically, [Litecoin [LTC], Ripple [XRP], Ethereum Classic [ETC] and BitcoinCASH[BCH] alldrewhigher demandduring the period, theofferstrained, driving rates on mostvariousassets higher,” the report continues.
The type ofconsumerusingthe platform hasconjointlymodifiedover time, with hedge funds dominating atthe beginning buthowever since givingway tocommerceand arbitragecorporations.
“Thesecorporationsusuallyborrow digital assets to trade against derivatives like futures and swaps,” Genesiswhile explaining further concluded:
“We believethis sortof activitycanstillcontinue to growasderivativemarkets matures.”
However, Q4 2018is all setto seethe market debut ofa minimum ofone major institutional investmentsolutionfor the digital currencies,possiblyintercontinentalExchange’s “regulated ecosystem” Bakkt, that caninitially offer physical Bitcoin futures.