Genesis owned by Digital currency Group acquires Qu Capital
“We have been very impressed with the Qu Capital team and believe they will provide key technology enhancements that will benefit our trading and lending clients,” said Michael Moro, CEO of Genesis. “This acquisition is the latest effort to bolster our technology capabilities and intellectual firepower in order to better serve clients in an increasingly competitive marketplace.”
“Genesis is committed to offering best-in-class trading and lending technology solutions to our institutional counterparties,” said Pat DeFrancesco, CTO of Genesis. “We are excited to add the Qu Capital tools, which incorporate machine learning and other advanced methodologies, into our existing technology stack and new product offerings.”
A broker-dealer registered with the SEC and FINRA, Genesis facilitates trades for institutional investors and high net worth individuals looking to buy or sell large sums of digital currencies. Genesis provides liquidity to its trading partners, along with same-day settlement, 24/7 trading, and deep institutional expertise developed from trading billions of dollars in digital assets since entering the industry in 2013.
In 2018, Genesis launched its lending business, Genesis Capital, to provide a platform for borrowing and lending digital currencies. Genesis is a wholly-owned subsidiary of Digital Currency Group. In addition to Genesis, DCG is the parent company of Grayscale Investments, the largest asset manager in the digital currency industry, and CoinDesk, a leading media and events company.