Cantor Fitzgerald to Launch $2 Billion Bitcoin Funding Business
According to CoinDesk, financial services company 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 company will start with $2 billion in loans and increase the line in $2 billion increments as needed. Lutnick emphasized the company's commitment to integrating bitcoin into global financial markets, saying, "We are going to welcome bitcoin to the financial family of 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 company already does business with stablecoin issuer Tether and holds a significant amount of bitcoins. Cantor Fitzgerald is recognized on Wall Street as one of the largest bond brokerages and manages the US Treasury's operations with Tether, the largest stablecoin issuer.
