According to CoinDesk, financial services firm Cantor Fitzgerald announced plans to open a bitcoin financing business. CEO Howard Lutnick revealed the news at the Bitcoin Conference on Saturday, stating that the firm will start with $2 billion in lending and will increase the facility in $2 billion increments as needed. Lutnick emphasized the firm's commitment to integrating bitcoin into the global financial markets, saying, 'We are going to welcome bitcoin into the financing family of the global financial markets.'

The new business will provide leverage to bitcoin holders, as detailed in a press release. This move marks another step in Cantor Fitzgerald's involvement in the cryptocurrency space. The firm already conducts business with stablecoin issuer Tether and holds a significant amount of bitcoin. Cantor Fitzgerald is recognized on Wall Street as one of the largest bond brokerages and manages U.S. Treasury trading with Tether, the biggest stablecoin issuer.