News
Wall Street’s Cantor Fitzgerald to Launch Bitcoin Financing and Lending Business
NASHVILLE — Financial services firm Cantor Fitzgerald will open a Bitcoin financing business, CEO Howard Lutnick said at the Bitcoin conference Saturday.
“We’re going to launch the project with a $2 billion loan,” Lutnick said, and increase the facility in increments of $2 billion as needed. He then added, “We’re going to welcome bitcoin into the global financial markets financing family.”
The company will provide leverage to bitcoin holders, according to a Press release.
Cantor Fitzgerald’s new lending facility isn’t its first move into the cryptocurrency space. It already does business with stablecoin issuer Tether. The company also owns a “load” of bitcoin, Lutnick said.
Cantor Fitzgerald is well-known on Wall Street as one of the world’s largest bond dealers and already handles U.S. Treasury trades with the largest stablecoin issuer, Tether.