Genesis Global Capital has decided to join forces with Algorand – one of the most notable DeFi platforms – in a bid to grow their reach in this market’s lending, borrowing and collateral ecosystem.
The DeFi segment of the digital assets market has enjoyed a lot of investor attention the past year or so, and being a digital and democratised counterpart of a financial system that many are already familiar with might have a role to do with that. Regardless, what matters most is the fact that institutional investors have started to take notice.
Genesis Capital – a digital assets brokerage firm geared towards institutional investors – adding support for USDC and ALGO for lending and borrowing is one such example, and the company views Algorand’s infrastructure as a perfect match for their plans to grow in line with the rapid expansion of the DeFi market.
“The growth and adoption of stable coins has played a big role in our business over the last year, and we see Algorand’s technology as another tailwind to a fast-growing digital currency lending market. Genesis will support borrowing and lending in ALGO and USDC on Algorand, and will also accept both assets as collateral against other loans.” As per Matt Ballensweig, Genesis Global Capital’s Head of Institutional Lending.