Cantor’s Bitcoin financing business announces first transactions

Cantor’s Bitcoin financing business is fully operational, the company announced on Tuesday. 

One of the transactions was with Maple, which said that it closed its first tranche of Bitcoin-backed financing. 

“This financing facility through Cantor enables Maple to accelerate its growth and expand its reach as a provider of digital asset credit,” said Sidney Powell, CEO of Maple Finance.

Maple said that the transaction was a “major milestone” for the institutional adoption of crypto. 

Cantor says it plans to make $2 billion of financing available in its initial phase. 

“Institutions holding bitcoin are looking to broaden their access to diverse funding sources, and we are excited to support their liquidity needs to help them drive long-term growth and success,” Cantor’s Christian Wall said. 

Cantor tapped Anchorage Digital and Copper as custodians.

The firm, helmed by Commerce Secretary Howard Lutnick’s son, Brandon Lutnick, announced that it would launch its Bitcoin financing business earlier this year. Lutnick, who stepped down from the company when tapped as commerce secretary, has been a supporter of Tether for years. 

Cantor announced in April that it was teaming up with Tether and SoftBank. The three formed Twenty One Capital through a merger with Cantor Equity Partners, a blank-check vehicle. 

“With a visionary leader at the helm and backing from two renowned industry leaders, Twenty One is designed to help investors capture value from bitcoin’s growing global demand and increasing institutional adoption,” Cantor Fitzgerald Chair Brandon Lutnick said at the time. 

---

Get the news in your inbox. Explore Blockworks newsletters:

• The Breakdown: Decoding crypto and the markets. Daily.
• 0xResearch: Alpha in your inbox. Think like an analyst.