Cantor Fitzgerald said on Tuesday that its new “Bitcoin Financing Business” had completed its first transactions.
The Wall Street firm, which plans to initially make up to $2 billion in financing available to institutional clients, said it has closed a first tranche of deals with Maple Finance and FalconX.
“Early on, Cantor recognized the transformative impact digital asset financial services would have on the global economy,” said Cantor Fitzgerald Chairman Brandon Lutnick in a statement. “This achievement highlights how the combination of Cantor’s deep expertise and entrepreneurial spirit creates a distinct advantage on Wall Street and further solidifies our position as a leading investment bank for crypto and digital asset clients.”
Maple Finance co-founder and CEO Sidney Powell said its deal with Cantor Fitzgerald will expand its ability to service clients interested in accessing the digital assets market.
“We’re seeing strong and increasing demand from institutions looking to access the crypto market through reliable, regulated channels,” he said in a statement.
“Digital assets have lacked the institutional-grade credit infrastructure that’s essential to well-functioning capital markets,” FalconX’s Head of U.S. Sales Josh Barkhordar said in a separate statement. “This collaboration between Cantor and a crypto-native firm represents a significant step toward building that framework, enabling digital assets to function with the same depth and reliability as traditional markets.”
Cantor said it is using Anchorage Digital and Copper.co for custodial services.
Tuesday’s announcement follows the Financial Times reporting in April that Cantor Fitzgerald was planning a $3 billion Bitcoin investment project with SoftBank, Tether, and Bitfinex.
Cantor’s current chairman is the son of the firm’s former CEO, Howard Lutnick, who stepped down to take on the role of U.S. Secretary of Commerce in President Trump’s administration.
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