Demand for stablecoin loans have risen 38% to $870 million in the third quarter of 2019 say one of the world’s largest investment companies serving the crypto sector.
Genesis Capital have reported sustained growth in its digital asset lending business.
Michael Moro, CEO at Genesis, believes that stable coins like the USDC (Circle) and PAX (PAXOS) have created a much more fluid market for companies to obtain capital, in particular companies that find it difficult to get access to reliable and stable banking services.
Following a near 300% increase in the value of bitcoin in 2019 investors and businesses are leaning positive on the idea of acquiring loans through stable coins or DEFI (Decentralised finance).
Stablecoins are beginning to be favoured by overseas companies that find it challenging to secure loans from U.S banks.
Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
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