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Cantor Fitzgerald Taps Copper, Anchorage Digital as Custodians for Bitcoin Financing Business
The business launches with $2 billion in initial financing.
What to know:
- Cantor Fitzgerald has tapped Anchorage Digital and Copper.co to manage collateral and custody for its new bitcoin financing business.
- Anchorage Digital, which operates the only federally chartered crypto bank in the U.S., provides custody, staking, trading, governance, and settlement services.
- Copper.co delivers secure custody, prime services, and collateral management for institutions, ensuring asset protection with its security architecture.
Wall Street asset management firm Cantor Fitzgerald has tapped Copper and Anchorage Digital as custodians for its new bitcoin (BTC) financing business, which aims to provide institutional investors with leverage on their bitcoin holdings, the firm said on Tuesday.
"We are launching with $2 billion in initial financing and expect to substantially grow the operation over time," said Michael Cunningham, Head of Bitcoin Financing at Cantor Fitzgerald, in a press release.
STORY CONTINUES BELOW
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The Wall Street giant announced its plan to launch the business in July, saying it wanted to build a platform to support Bitcoin investors’ financing needs. Cantor Fitzgerald also manages stablecoin issuer Tether's stockpile of U.S. Treasuries that backs the value of the $142 billion USDT stablecoin.
The firm's former CEO, Howard Lutnick, currently serves as the Secretary of Commerce and has been a vocal proponent of integrating BTC into traditional finance.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
Helene Braun
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
