Wall Avenue funding financial institution Cantor mentioned on Tuesday it has executed the primary transaction of its new bitcoin
lending enterprise as a part of the agency’s plan to supply $2 billion in financing.
The primary companies to safe financing from the credit score facility embody Maple Finance, a crypto lender with over $1.8 billion of property on its platform, and FalconX, a digital asset prime brokerage.
The Wall Avenue big introduced its plan to launch the enterprise in July, saying it wished to construct a platform to help bitcoin traders’ financing wants.
“Establishments holding bitcoin want to broaden their entry to numerous funding sources, and we’re excited to help their liquidity wants to assist them drive long run development and success,” mentioned Christian Wall, co-CEO and international head of mounted earnings at Cantor.
Cantor Fitzgerald additionally manages stablecoin issuer Tether’s stockpile of U.S. Treasuries that backs the worth of the $142 billion USDT stablecoin. The agency’s former CEO, Howard Lutnick, at the moment serves because the Secretary of Commerce and has been a vocal proponent of integrating BTC into conventional finance.
