Cantor Fitzgerald plans $2 billion Bitcoin-collateralized lending program via Tether

According to a recent Bloomberg report, Cantor Fitzgerald, a financial services company that serves as Tether’s banking partner, is looking to partner with stablecoin issuers for a program that would allow customers to borrow dollars using Bitcoin as collateral. The company plans to start Bitcoin lending with $2 billion, which is expected to grow to tens of billions of dollars. Notably, Cantor Fitzgerald agreed to acquire a 5% stake in Tether for approximately $600 million over the past year. Earlier this week, President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to be the next Secretary of Commerce.