- Cantor Fitzgerald has announced plans to launch a Bitcoin financing business.
- The company said it would pour billions into the new venture.
- The financing service will be offered to a special group of investors.
Financial services company Cantor Fitzgerald announced today plans to launch a multibillion-dollar business focused on Bitcoin financing and lending.
Founded in 1945, Cantor Fitzgerald is a private institution focusing on investment banking, asset management, equity research, fixed income, and prime services. Billionaire Howard W. Lutnick has been at the company’s helm for over four decades, making him one of the longest-standing CEOs on Wall Street.
Cantor Fitzgerald’s Bitcoin Business
Lutnick first broke the news about Cantor Fitzgerald’s new venture at Bitcoin 2024 in Nashville, where presidential hopeful Donald Trump is also expected to speak later Saturday. The conference is billed as the largest crypto gathering globally.
Sponsored
Following Lutnick’s announcement, Cantor Fitzgerald said in a press release that it would launch the Bitcoin financing business with an initial $2 billion and continue to “substantially” grow the operation. Per the statement, the business will provide leverage to investors who hold BTC.
“Cantor Fitzgerald arranges and finances vast amounts of securities and commodities and, as strong supporters of Bitcoin, will now build an incredible platform to support Bitcoin investors' financing needs,” Lutnick stated. “We are excited to help unlock Bitcoin's full potential and continue bridging the gap between traditional finance and digital assets.”While this is a huge step underscoring growing institutional interest in Bitcoin, Cantor Fitzgerald isn’t a newcomer in the crypto space. Per Lutnick, the company already does business with USDT issuer Tether and owns a colossal amount of BTC.
Additionally, Cantor Fitzgerald said in the statement that it would partner with “select” Bitcoin custodians to launch its new business.
Sponsored
Stay updated on Metaplanet’s latest Bitcoin acquisition:
Metaplanet Buys Additional Bitcoin as Price Breaks Above $67K
Read the latest news on Mt. Gox creditor repayments:
Mt. Gox Creditors See More Payouts as Bitstamp Distributes BTC
