Cantor Fitzgerald has officially launched a $2 billion Bitcoin-backed lending program, marking its entry into crypto-backed financing.
Cantor Fitzgerald has officially launched a $2 billion Bitcoin lending program and completed its first loans with financing to cryptocurrency companies FalconX Ltd. and Maple Finance, according to a report by Blockworks.
The lending initiative, which was announced earlier this year, will mainly target institutional clients such as hedge funds and asset managers. Meanwhile, Anchorage and Copper will serve as custody partners for the Bitcoin collateral.
This move marks a significant step in Cantor Fitzgerald’s foray into crypto-backed financing. It also highlights the increasing confidence that Wall Street firms have in Bitcoin’s stability and role within the global financial system.
Moreover, Cantor Fitzgerald is managing Tether’s substantial U.S. Treasury reserves, showcasing its presence in both traditional and digital finance domains.
The firm’s entry into crypto lending marks a natural progression as it seeks to expand its offerings and cater to the evolving needs of its institutional clientele.
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