Genesis Capital, a crypto lending service provider, has issued nearly $8.4 billion in loans

Genesis Capital, a cryptocurrency lending service provider, released its second-quarter operating report. The report showed that the company’s spot transaction volume reached US$5.2 billion, an increase of US$1.2 billion from the first quarter. In terms of loan business, more than US$2.2 billion of loans were added, an increase of 324% year-on-year, a new quarterly high. Active loans outstanding increased by 118% compared with the first quarter, and cumulative loans granted increased for the 9th consecutive quarter. Since March 2018, the total amount of loans issued reached US$8.4 billion. Genesis CEO Michael Moro said that people’s desire to generate digital currency yields in the form of spot loans, call options, and liquidity mining based on the DeFi protocol is unprecedented. All this shows that market participants are seeking a variety of rigorous methods to generate a rate of return consistent with their risk appetite. Chain Wen noted that in 2018, Genesis launched its lending business Genesis Capital, which provides a platform for digital currency lending. In May of this year, Genesis launched its derivatives trading business.