Cantor Fitzgerald Plans $2B Bitcoin-Backed Loan Program with Tether

As per the latest Bloomberg report, Financial services firm Cantor Fitzgerald, which serves as Tether’s banking partner, is looking to work with the stablecoin issuer on a program that will allow clients to borrow dollars against Bitcoin as collateral. While the firm will start lending against Bitcoin with $2 billion, it is expected to increase to tens of billions. Notably, Cantor Fitzgerald agreed to acquire a 5% stake in Tether for around $600 million in the past year. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be the next Commerce Secretary.