Genesis Global Trading to Launch Crypto Lending

A market maker set up a lending business, that will allow investors and businesses to borrow cryptocurrencies
01 March 2018   360

Genesis Global Trading Inc., a big institutional market maker for digital currencies announced the launch of Genesis Global Capital – Institutional Digital Currency Lending.

Global Capital will allow investors and businesses to borrow cryptocurrencies in quantities of $100,000 or more for two weeks up to six months. The currency of loans will be in bitcoin, ether, ether classic, XRP, bitcoin cash, zcash, and etc.

According to a press release, the lending service 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 cryptocurrency-centric businesses.

Global Capital suggest investors to use the company’s lending capacity to hedge total portfolio risk or take speculative short positions or for other cases.

Some companies, such as BlockTower Capital and DV Chain are already interested in the lending service.

The majority of trading volume in several cryptocurrencies is denominated in bitcoin, which has created a need for a bitcoin lending market.

Garrett See

DV Chain CEO

Survey: Millionaires do not gain Enough Crypto Advice

A survey revealed today by Capgemini shows: only 34.6 percent of high net worth individuals have got cryptocurrency information from their wealth managers
19 June 2018   50

According to Reuters, the information is received from Capgemini’s annual survey, the World Wealth Report. The latest edition demonstreted that additionally to the aforementioned 29 percent, a further 26.9 percent are “on the fence” relatively to  cryptocurrency investment - meaning that well over half of HNWIs are aware of and/or interested in cryptocurrency like Bitcoin.

A Paris-based business consulting corporation, Capgemeni, determines HNWIs as people with at least $1 million accessible to invest, outside of asset holdings such as real estate, automobiles, and art. At the start of 2018, there were a counted 15.2 million such people in the world. This part of society controls more than $70 trillion, and Capgemini expects that figure to rise to $106 trillion by 2025.

Also it was found by the study that 71.1 percent of younger millionaires (age 40 and below) place “high importance” on getting information about cryptocurrency from their wealth management firms, as do 13 percent of those aged 60 and over. In the whole, only 34.6 percent of them claimed that they had learnt cryptocurrency information from their wealth managers. 

This probably points to a trend of wealth managers being a bit behind the times. It also unfolds that a market force which could go some way towards explaining the fact that at least 167 new cryptocurrency hedge funds were instituted last year. During the year of 2017, these funds saw massive growth in profit.