The division of Genesis Global Trading, Genesis Global Capital unveiled insights report for Q2 2019 posting 48% increase q-o-q.
According to the available information, the company recorded total active crypto and fiat loans for $746 million in the second quarter of the year, which is 48% up q-o-q. Bitcoin is still the key item in the unsettled loans portfolio. Its share accounts for 62% of the overall composition. At the same time, stablecoins loans soared by100% to 24% of the total portfolio.
Over the period under review, international investors more often took loans in US dollars or US dollar-backed stablecoins, the report showed.
As for other major cryptocurrencies, Ethereum loans accounted for 3.9% of the total loan portfolio, LTC – 3.7% and XRP – 2.5%.
Notably, the company borrows assets from large market players at 4-5% per annum and then gives loans with 6,5-7,5% annual rate.
Total active loans in Q2 hiked by 149% q-o-q to $454 million
The company processed loans practically for $2.3 billion since it launched operations.
Genesis is a registered broker-dealer holding license from US Securities and Exchange Commission and FINRA.