Genesis Capital has released a report called “Q1 Insights” which contains a summary of the first quarter of 2020 with specific statistics.
Genesis says it has had its largest quarter ever in digital asset lending. More than $2B was added in new originations, doubling the previous record of $1B by 354%.
Active lending reached $1B in mid-February, then moved to $649M at the end of Q1, but increased overall by 20% from the previous quarter.
Cumulative originations have grown 46.6% from the previous quarter, this is the eighth consecutive quarter marked by strong growth and the company’s total revenue has been around $6.2B since the start of lending in March 2018.
Within the composition of assets in Q1 2020, BTC and cash loans clearly dominate, accounting for 81.4% of the value. Genesis also notes that the general interest is primarily focused on BTC / USD and that this trend is much greater compared to the ALTS / USD market.
Summary Statistics
- 2020 Total Originations: $2.0B
- Originations ITD: $6.2B
- Total Active Loans as of Mar 2020: $649M
- Reached $1B+ in Active Loans on Feb 14, 2020
About Genesis Capital
Genesis Capital, an affiliate of Genesis Trading, offers institutions the ability to borrow bitcoin and other digital currencies in large sizes over fixed-terms.