U.S. financial services and bond trading firm Cantor Fitzgerald is reportedly discussing a multibillion-dollar Bitcoin-backed lending program with the help of Tether.

The proposed program would allow clients to borrow dollars using Bitcoin as collateral. Initially, the operation would begin with a $2 billion allotment, though it has the potential to expand as crypto sees more adoption, according to a Bloomberg report on Saturday.

It’s yet another step towards a symbiotic relationship between Wall Street and the crypto industry, which has deepened this year, particularly as an expected transition in crypto policy comes to the fore as Trump prepares to settle into the White House.

The Bitcoin lending program, still in its early stages, would likely include multiple financial contributors alongside Tether, per the report. Cantor is already recruiting staff for the initiative.

The move comes as Cantor’s chief, Howard Lutnick, was nominated as Commerce Secretary under President-elec

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Author: Vince Dioquino

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