Howard Lutnick’s Firm, Cantor Fitzgerald To Work With Tether For $2B Project
According to a new report from Bloomberg, financial services company Cantor Fitzgerald, which is a banking partner of Tether, is looking to partner with stablecoin issuers on a program that would allow customers to borrow U.S. dollars using Bitcoin as collateral. While the company will start offering $2 billion in Bitcoin loans, it is expected to grow to tens of billions. It is worth noting that Cantor Fitzgerald agreed last year to acquire a 5% stake in Tether for approximately $600 million. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be the next Secretary of Commerce.
