Genesis Capital to Issue $1.1B Crypto Loans in 2018

60% of the loan portfolio of Genesis Global Capital was BTC and on 20% fell on XRP tokens
31 January 2019   659

A lender focused on institutional investors, Genesis Global Capital, in 2018, processed $ 1.1 billion worth of cryptocurrency loans, the company said in a tweet.

It is noteworthy that the company more than doubled the total amount of loans in the last three months of 2018, having processed more than $ 500 million. At the same time, the company closed with active loans of $ 153 million.

Note that 60% of the loan portfolio of Genesis Global Capital was Bitcoin, 20% fell on XRP tokens, and another 20% on other digital assets.

Representatives of the company noted that a significant portion of loans were issued to traders who open short positions in cryptocurrency.

Genesis Global Trading, the credit division of which is Genesis Global Capital, is a registered broker of SEC and FINRA, part of the business empire of Barry Silbert and his Digital Currency Group (DCG).

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.