Cantor Fitzgerald, a financial services firm and Tether’s banking partner, is reportedly planning a program that allows clients to borrow dollars against Bitcoin as collateral. Initially starting with $2 billion, this is expected to grow to tens of billions. Cantor Fitzgerald has already been working with Tether and holds billions of dollars worth of U.S.
treasury bills backing the world’s largest stablecoin, Tether (USDT). The firm has faced controversy over its support for Tether, but CEO Howard Lutnick, who is also President-elect Trump’s transition adviser, has confirmed that Tether holds sufficient reserves for its stablecoin. Tether is currently under investigation in the U.S.
for potential violation of sanctions and anti-money laundering rules.
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<p>The post Financial Services Firm Cantor Fitzgerald to Offer Bitcoin Collateralized Loans with Tether first appeared on CoinBuzzFeed.</p>
