- Genesis Capital loaned out $425 Million in crypto.
- Genesis Capital has loaned a sum of $1.53 Billion in total.
On Thursday, Genesis Capital announced that they loaned out $425 Million in crypto to the clients in the first quarter of 2019. In totality, the Genesis Capital has loaned out a sum of $1.53 Billion and its outstanding loans surged by 17% from the end of 2018 to touch $181 million by the end of last month. The firm’s loans comprise of 68% Bitcoin-denominated Loans, whereas XRP and Ether hold 6.7% and 3.6% respectively.
Michael Moro, chief executive of the company, told Reuters:
“We expect more new entrants into the marketplace, and lending rates to correspondingly decrease. But since this space is still so new, I think the strong level of growth will continue for quite some time.”
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