Genesis Global Trading has launched a cryptocurrency loan service for institutional investors. The new subsidiary will offer investors huge cryptocurrency loans over a specific period.
Genesis Capital will provide cryptocurrency investors the opportunity to borrow a wide variety of digital currencies in sizes ranging from $100,000 over a fixed period of time.
“We believe now is a great time to offer an institutional-focused lending service because it will increase general liquidity in the marketplace, encourage new financial institutions to participate in a two-sided market and increase the working capital that companies use to scale their digital currency-centric businesses,” read the announcement.
The company says interested firms can apply for loan between $100,000 to $5 Mln+ USD worth of digital currencies, according to the website’s submission page. The loan duration ranges from two weeks to six months depending on the needs of the company.
According to the company, Genesis Capital have attracted notable clients such as BlockTower Capital, an existing client of the parent trading company, and DV Chain, a cryptocurrency trading firm.
“The majority of trading volume in several cryptocurrencies is denominated in bitcoin, which has created a need for a bitcoin lending market,” DV Chain CEO Garrett SEE told CNBC.
https://bitzamp.com/genesis-trading-launches-cryptocurrency-loan-service-for-institutional-investors/
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