Genesis Acquires Qu Capital to Boost Crypto Trading Technology

Genesis Global Trading, a digital currency trader and lender, on Tuesday, announced the acquisition of quantitative investment and research firm Qu Capital.

The acquisition is the first such move made by the company to enhance its trading technology.

Commenting on the development, Michael Moro, chief executive of Genesis, said: “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.”

“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.”

The announcement, however, did not detail any terms of the deal.

Improving the trading technologies for digital assets

Based in New York, Qu Capital has developed trading technology to enhance Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term connectivity, improve order routing, and advanced Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term tools. Its solutions also conduct quantitative research on the digital asset market.

With this deal, Genesis will also on-board two of the three founders of Qu Capital, with an additional hire of one more staff from its six-member team.

“Genesis is committed to offering best-in-class trading and lending technology solutions to our institutional counterparties,” Pat DeFrancesco, chief technology officer at Genesis, added. “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.”

Since its launch in March 2018, Genesis has become one of the world's major crypto lenders and is regulated as a broker-dealer under the SEC and FINRA in the United States. The company issued $746 million in crypto loans in the second quarter of this year, which took the total originations of the company to $2.3 billion.