Genesis Global Trading, an OTC digital currency trading firm, has reportedly issued $ 553 million in cryptocurrency loans to hedge funds and other institutional investors in the last six months through its affiliate, Genesis Global Capital. We are excited to present the first Digital Asset Lending Snapshot that highlights key trends and metrics since our launch.https://t.co/cIkfwCx4Lu $ BTC […]
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Cryptocurrency Loans Go Big As Company Reveals $550M Half-Year Traffic
The cryptocurrency loans offshoot of just one firm saw through-flow of over half a billion dollars in its first six months on the market.
‘Incredibly Strong Reception’
That’s according to third quarter statistics released October 18th by Genesis Capital, a US-based over-the-counter trading firm. In March of this year, Genesis began offering cryptocurrency loans to institutional investors.
Upon release, executives said, the product saw an “incredibly strong reception” from hedge funds, trading arbitrage firms.
Regarding the statistics, they wrote:
New global finance platform to offer small firm loans of up to €1m in as little as 24 hrs.
Lithuania-based startup Debitum Network has launched a worldwide finance platform, known as Abra 1.0, that will deliver loans of between 10,000 euro and 1 million euro to small businesses in as little as 24 hours, according to a press release CoinReport received from Blue Oceans PR, Debitum’s commun…
The post New global finance platform to offer small firm loans of up to €1m in as little as 24 hrs. appeared first on CoinReport.
Bitcoins For Secured Loans – Indian Industry Still Doubtful
Secured loans in the digital lending space are witnessing a lot of innovations. But thinking of cryptocurrencies as collateral forms for these loans is still a big question, one full of regulatory and practical concerns.
Also read: Japanese Corporation Begins Offering Loans Secured by Cryptocurrency
Loans Secured Against Bitcoins
If there is anything that has undergone a change, thanks to digital players in the BFSI space in India, it is – everything. Just pick lending and you can see how big data, social media weight, machine learning, etc. have made KYC (Know Your Customer) and credit-checks different. Add to that the use of APIs (Application Program Interfaces) and virtual elements for fast disbursement, and one can see why speed and ease are making digital loans stand apart.
Why Bitcoin-Collateralized Loans Still Work in a Bear Market
Despite talk of Bitcoin heading higher in the second half of 2018, many long and short-term holders are growing impatient – or are even being squeezed out of the market.
HODL The Pain Or Reap The Gain?
The result of a long, slow decline in Bitcoin price 00 which began following the cryptocurrency’s all-time highs in December 2017, social media and community forums are awash with commentators slowly – and highly reluctantly – exiting their positions.
The phenomenon does not affect everyone; research data from Q2 this year shows how around 50 percent of the Bitcoin supply is used for investment rather than trading purposes.
Binance Partners With Libra Credit to Offer Loans to BNB Holders
Binance Labs has invested in cryptocurrency loans company Libra Credit who will offer fiat and cryptocurrency loans to BNB holders using their coins as collateral.
The latest venture by the investment arm of the world’s largest cryptocurrency exchange, Binance, will take advantage of a growing demand for the liquidity of crypto-assets. Binance Labs is a social impact fund which incubates and invests in cryptocurrency and blockchain projects.
Libra Credit is branded as a decentralized digital asset financial services platform, and it has a primary focus on lending. Its initial coin offering (ICO) with the coin (LBA) ended May 5, 2018, having raised $ 26 million. Libra is planning to launch both a desktop lending platform and a mobile application for borrowers.
Certified German Bank Transfers Loans with Bitcoin, Subverts SWIFT
One online bank in Germany is now using bitcoins for loan transfers.
Subverting SWIFT
Founded by German Radoslav Albrecht, Bitbond is an online bank which now affords its customers the ability to transfer loans internationally — specifically, by using Bitcoin.
The platform uses Bitcoin and other cryptocurrencies to subvert SWIFT — the self-proclaimed world’s leading provider of secure financial messaging services — by lending money around the world instantly and at virtually no cost. Albrecht explained to Reuters TV:
Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days. With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.
Students Use Loans to Fund Cryptocurrency Investment: Study
On March 22, 2018, a report was released by the Student Loan Study that raised a few eyebrows across the space. A survey of 1,000 college students with student debt were asked the simple question:
Have you ever used student loan money to invest in cryptocurrencies like bitcoin?
The results were astounding with 21.2 percent answering in the affirmative.
Although the details of the methodology used in the survey have been kept relatively vague and leave questions as to whether the subset selected could provide a realistic estimation, a case can be madefor these surprising results.
Loans of $10M in Crypto-Tokens to Sub-Saharan Farmers
Dala, a crypto-token designed to enable instant, zero-fee, borderless micropayments, and Wala, a blockchain-powered financial services platform for the unbanked and underbanked, announced a strategic partnership with Block Commodities Limited, a commodity trader operating across Africa listed on the Nex Exchange in London (BCLL), and FinComEco Limited, a fully integrated Financial and Commodities Ecosystem fostering financial inclusion with social responsibility throughout the agricultural value chain. Dala, Wala, Block Commodities Limited and FinComEco will work together in this partnership to develop and operate a range of platforms, projects and initiatives in the agricultural commodity markets sector in sub-Saharan Africa.
RCN Partners with Decentraland to Offer Credit Loans on Virtual Real Estate
It has been a busy week for popular peer-to-peer lending platform RCN. From announcing new strategic partnerships to upgrading key systems on its platform, RCN is working hard to deliver the best possible services and features to its users.
RCN Announces Decentraland Partnership
Earlier this week, RCN announced their new partnership with Decentraland, the blockchain-based virtual reality platform where users can acquire virtual land to create and monetize their content.
In addition to exploring and interacting with Decetraland’s 3D virtual world, users can also purchase land as well, creating an immutable record of ownership on the Ethereum blockchain.