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Genesis launches Derivatives Trading Desk & appoints Joshua Lim to lead

Michael Moro, CEO of Genesis

Digital currency trading and lending provider Genesis has announced that the company has launched a derivatives trading desk, expanding the company’s suite of digital asset trading, institutional lending, custody, and prime services. The announcement follows the company’s strategic plan to build the premier digital asset prime brokerage.

“Genesis is a one-stop-shop for sophisticated market participants and trading partners in the digital asset industry. With a strong balance sheet and a team of talented traders with years of experience across product sets, Genesis is uniquely well-positioned to build a scalable derivatives desk. We also have developed longstanding, trusted relationships with counterparties and exceptional connectivity across the digital asset ecosystem,” said Michael Moro, CEO of Genesis.

Genesis also announced the appointment of Joshua Lim, formerly of Galaxy Digital and Circle to lead the Genesis derivatives team. Lim played a vital role in transforming the FinTech company Circle into a top tier OTC trading desk active with many early crypto market participants. He, at Galaxy Digital, grew the firm’s institutional counterparty base by offering customised products to meet their liquidity and hedging needs, while building risk management, internal technology, and accounting capabilities to handle spot and derivative transactions.

“Genesis has been a digital asset trailblazer for years, and I’m thrilled to join the team as they scale the business. In many other asset classes, derivative volumes grow to exceed the underlying spot. We’re still in the early innings of crypto derivatives, and we believe demand for these products will increase significantly from where we are today. Genesis’ unique access to liquidity and lending markets, coupled with our trusted brand and well-established franchise, makes us an ideal derivatives trading partner for the industry,” said Joshua Lim, Director – Head of Derivatives at Genesis.

Joshua Lim provided the derivative hedge for one of the earliest non-linear crypto structured products listed on a European exchange. He printed the first-ever options blocks in both the CME and ICE Bitcoin futures.

“Josh brings a wealth of knowledge and industry experience to the Genesis team. He provides immediate credibility to our derivatives desk as we look to grow this important aspect of the digital asset market,” said Moro.

The Genesis trading desk expects to be a principal liquidity provider across crypto derivative markets and will trade both cleared and bilateral OTC derivatives in options and forwards.

Founded in 2015, Genesis is a subsidiary of Digital Currency Group and the exclusive distribution and marketing agent for all Grayscale Investments products. It offers investors a marketplace to custody, trade, borrow, and lend digital currencies, thereby creating new opportunities for yield while increasing capital efficiency for counterparties.

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