Genesis Capital originated $746 million in cryptocurrency and fiat loans in Q2. They, therefore, exceeded Q1 by 48%.
Genesis Global Capital is a product of Genesis Global Trading, under the mogul Barry Silbert, and is oriented towards institutional investors.
Excited to share our Q2 Digital Asset Lending Snapshot. We originated more loans this quarter than ever before, adding $746M in originations bringing our active loan book to $452M. We thank our partners in helping us achieve this milestone.https://t.co/cdpggReMs1
— Genesis Capital (@Gen_Capital) July 23, 2019
In their report, we see that international investors are borrowing money in US dollars or associated cryptocurrency and that Bitcoin majorly dominates the portfolio at a 62% share. Comparatively, Ethereum takes a share of 3.9% of the outstanding loan portfolio, Litecoin 3.7%, and Ripple at 2.5%.
In fact, the share of cryptos increased by 24% overall. The company gives loans at 6.5-7.5%, taking coins at 4-5% per annum.
In 2018, Genesis processed $1.1 billion worth of crypto loans, and in Q1 2019, it was worth $425 million.
Now, we see in the report that the cost of outstanding active loans itself is $454 million, which is a whopping 149% higher than in Q1.
Overall, since its inception, the company has processed loans of almost $ 2.3 billion.