Genesis, which launched in March to let institutional investors borrow virtual coins by depositing U.S. dollars, has already issued $700 million of loans, Moro said. It now has about $140 million in loans outstanding with an average duration of six weeks, he said. Genesis plans to more than double its staff in the coming year to as many as 12 people, and it’s looking at growing in regions such as Asia.

Source: Los Angeles Times January 02, 2019 23:26 UTC