Genesis reported a twofold increase in the volume of crypto lending …

Genesis reports a twofold increase in the volume of crypto lending in the third quarter to $ 5.2 billion

Genesis company providing lending and trading services in the field of cryptocurrencies, reported on the continued growth of her business.

According to The Block, the volume of issued company loans in the third quarter amounted to $ 5.2 billion, an increase of more than doubled from a record second quarter of $ 2.2 billion.

Genesis entered the crypto lending space in March 2018 of the year and has since issued loans $ 13.6 billion. Last period was marked by an increase in demand for loans in fiat currencies and altcoins. Share bitcoin at this decreased from 51.2% to 40.8%.

The main reason for changing preferences clients Genesis is called the rise of the decentralized finance space. On this background everything loans in ETH and stablecoins began to be issued more often.

Wherein general growth volume active loans turned out to be “modest”, stated in company. In the third quarter is he grew by 50% to $ 2.1 billion against $ 1.4 billion in the previous quarter. Index reflects the volume funds, which to be paid to borrowers.

Genesis reported a twofold increase in the volume of crypto lending ...

In addition to self-lending, Genesis allows you to provide similar services his clients. As of September 30 on its platform had 165 lenders, which is 47.3% more than in the previous quarter.

Genesis reported a twofold increase in the volume of crypto lending ...

“Interest payments in September amounted to over 20% of the total interest paid over a 12-month period” – reports company.