Crypto lending market sees substantial momentum going into 2020 |
Crypto lending has been an investor favorite more than any other product in the cryptocurrency market. One of the exchanges to enter quite early in the lending space was Genesis Global trading which was founded in 2018, right as the Bitcoin bull run concluded. The lending space exploded with multiple exchanges offering lending/borrowing services to customers. Recently, Ripple in its Q4 report noted that XRP’s borrowing/lending market saw substantial momentum and was now considered a $5 billion industry.
However, with this exponential rise, the need for exchange connectivity functionality in addition to a treasury management function has become extremely important, according to Michael Moro, the Chief Executive Officer at Genisis Global Trading. Moro in an interview on Castle Island’s podcast “On the Brink” explained that despite having high volume customers with large cash reserves, there were a lot of businesses whose needs went over and beyond what exchanges were willing to offer. …
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Published at Thu, 30 Jan 2020 13:40:08 +0000