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Wall Street's Cantor Fitzgerald to Open Bitcoin Financing, Lending Business
The financial services company will start with $2 billion in lending.
NASHVILLE — Financial services firm Cantor Fitzgerald will open a bitcoin financing business, CEO Howard Lutnick said at the Bitcoin Conference Saturday.
"We are going to launch with $2 billion in lending," Lutnick said, and increase the facility in $2 billion tranches as needed. He later added: "We are going to welcome bitcoin into the financing family of the global financial markets."
STORY CONTINUES BELOW
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.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
