Wall Street's Cantor Fitzgerald to Open Bitcoin Financing, Lending Business
The financial services company will start with $2 billion in lending.
![Cantor Fitzgerald CEO Howard Lutnick (Danny Nelson/CoinDesk)](https://www.coindesk.com/resizer/y8l1Px9D6PUjoG0Nz0VPlZPYaZI=/567x319/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/IBL4UZN47JCSDKF2UW6P6UD4FU.jpg)
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."
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.