Wall Street's Cantor Fitzgerald to Open Bitcoin Financing, Lending Business
Jul 28, 2024 am 03:36 AM
The financial services company will start with $2 billion in lending.
Financial services giant Cantor Fitzgerald is launching a bitcoin financing business.
The firm will initially offer $2 billion in lending, CEO Howard Lutnick said at the Bitcoin Conference Saturday. The facility can be increased in $2 billion tranches as needed.
“We are going to welcome bitcoin into the financing family of the global financial markets,” Lutnick added.
The business will provide leverage to bitcoin holders, according to a press release.
Cantor Fitzgerald's new lending facility isn't its first step into crypto; It already does business with stablecoin issuer Tether. The firm additionally owns a "s***load" of bitcoin, Lutnick said.
Cantor Fitzgerald is well known on Wall Street as one of the world's biggest bond brokerages and already handles U.S. Treasury trading with the biggest stablecoin issuer, Tether.
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