Genesis Global Trading launched a credit business under the name Genesis Capital, which will allow institutional investors to borrow in currencies.
Founded in 2004, Genesis Global Trading is a trading company that provides services for trading digital currencies for institutions and individuals. It also offers securities auction rate. From July 2015 Genesis Global Trading, Inc. became a subsidiary of the Digital Currency Group.
New lending business of the company will enable investors and businesses to take cryptocurrency in the amount of $ 100,000 or more for a period of two weeks to six months. Loans are issued in Bitcoin, XRP, Ethereum, Litecoin, and zcash for other cryptocurrencies.
Genesis Global Trading in its press release stated that, in their opinion, providing investors with opportunities to borrow and trade currencies will help them improve investment management and to attract additional funds for business.
Genesis Global assumes that the active hedge funds and other institutional investors can use the credit as to hedge General risk investment and in order to create short-term speculation.
Firms trading in futures or options trading of cryptocurrencies, welcome the opportunity loans of cryptocurrencies, because they can quickly sell their loans to hedge. Trading firms can use the credit to reduce the risks associated with a volatile exchange rate – stated in the press release of Genesis Global.
Genesis Global also provides other options for use of the loan in addition to investment management. For example, they are useful for businesses to transfer money, which must immediately recalculate for their customers, but do not want to buy the currency in large quantities and assume the risk associated with the change of course. The firm believes that there are many more applications for their proposals, in addition to what has already been presented today.
The demand for such services has already brought Genesis Capital several significant clients in the field of cryptocurrency, including BlockTower Capital, the hedge Fund of cryptocurrencies, and DV Chain, the company to exchange cryptocurrency. CEO of Chain DV Garrett Zee said that because of the huge volume of trading cryptocurrency, has long been a need to create a credit business, and the CIO BlockTower Capital Ari Paul expressed the view that such credit business will allow us to more effectively identify costs and allows managers to hedge risks.
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