Announcing the Launch of Genesis Custody

Genesis launched the first U.S. OTC bitcoin trading desk in 2013, and our business has grown alongside the digital currency industry. Today, our company facilitates billions in digital asset trades, loans and transactions on a monthly basis — including surpassing $10 billion across product sets over the first half of 2020.

We’ve always had a clear vision for Genesis, and we’ve remained focused as we’ve expanded. When we began to think through our plans for custody, we went in with a deep understanding of the unique characteristics of digital currencies, a strong point of view on how to build best-in-class infrastructure for investors, and years of experience working with advanced cryptographic security practices.

We were fortunate this past May to be able to acquire Vo1t - a digital custodian with a track record working with banks, fund managers and crypto exchanges since 2015. We’ve known the security experts behind Vo1t for many years, and have admired their approach and pioneering technology. Following the acquisition, we spent time integrating Vo1t’s custody technology with our business, and today we’re very excited to launch Genesis Custody.

“We are very pleased to have arranged vault risk and additional digital asset crime insurance for Genesis Custody to further protect their clients and to complement their impressive custody offering.”

Jeff Hanson, Senior Vice President, Paragon International Insurance Brokers Limited

Genesis Custody is fast, secure and easy to use, with a focus on meeting the needs of sophisticated investors across an expanding list of jurisdictions. At launch, we service Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, MANA, ZCash, Horizen, XRP and XLM. New assets will be added on a monthly basis.

Genesis Custody offers clients everything they need in one location, including quick and efficient onboarding, streamlined access to assets, and a comprehensive transaction reporting suite with full portfolio auditability.

Behind the scenes, our custody infrastructure incorporates layers of cryptographic security, following the same best practices utilized by government agencies to protect their most valuable assets. Additional protection is provided to clients through a suite of customized insurance solutions, tailored to meet the specific requirements of Genesis Custody by digital asset insurance specialists Paragon International Insurance Brokers and Woodruff Sawyer.

“Genesis Custody is a unique custodial solution that demonstrates high levels of risk management and gives insurers the confidence to provide insurance coverage, offering further peace of mind to their customers. We are excited by the company’s future plans and are delighted to partner with Genesis.”

Nicholas Edwards, Head of Specie, Canopius at Lloyd’s of London, and lead insurer of the vault risk policy

You can learn more about Genesis Custody here, or get in touch to work with us as a client.

What’s Next

The launch of Genesis Custody services is a significant next step on our roadmap for the business.

In 2020, the narrative has only grown stronger for digital currencies. The market is maturing. With this move, Genesis is maturing too — we’re evolving to offer trading, derivatives, borrowing, lending and custody services on a single platform, paired with the best liquidity in the marketplace.

Expect to see a lot more from us over the coming months as we continue building services that provide more leverage for our clients, while lowering operational costs and minimizing inefficiencies for digital assets as compared to traditional asset classes.

Some highlights to look out for:

• Genesis is seeking regulatory approval to become a qualified custodian.
• As part of this process, we’re also looking to become an agency trading venue. Upon approval, we’re planning on launching an agency trading desk providing robust exchange connectivity and aggregated liquidity for more capital-efficient trades.
• We’re on the path to launching an institutional lending API. This will enable larger institutions to streamline lending with us.
• We’re working with regulators on licensing efforts in Singapore as we build out our presence there.
• Genesis will be launching a capital introduction business to introduce capital to hedge funds and asset managers utilizing our platform. We’ll also be integrating more robust capital market and fund administration tools.

Better Infrastructure for Sophisticated Investors

Genesis has grown into a business with a strong balance sheet, global reach, robust access to supply, and deep relationships with companies throughout the digital currency ecosystem. We are dedicated to accelerating the creation of sophisticated infrastructure to help institutional market participants operate profitably in the digital currency space.

Better global infrastructure will provide game-changing benefits in the maturation of digital currencies as an asset class – lowering barriers to entry, bringing in more liquidity and increasing the size of the overall market. Genesis is proud to play a part in creating new architecture, and to bringing our services on par with the world’s top financial institutions. We are building a foundation to create value for our clients and the digital asset industry for many years to come.

Thanks to our team, our DCG family, and everyone who has worked together to help us reach these milestones. There is much more ahead.