Financial firm Cantor Fitzgerald has executed its initial transactions under a $2 billion bitcoin-backed lending program, according to Bloomberg, citing its own sources.
The partners involved are crypto broker FalconX and the decentralized lending protocol Maple Finance.
FalconX has raised over $100 million through Cantor’s lending program. The company described this as part of an “expanded credit structure” for further growth.
Maple Finance also received funding, though insiders did not disclose the amount.
Earlier, Brandon Luthnik, son of the firm’s former head Howard Luthnik, became the chairman and CEO of Cantor. This year, Howard Luthnik assumed the position of U.S. Secretary of Commerce.
In April, Cantor established the firm Twenty One Capital in collaboration with Tether, Softbank, and Bitfinex.
It was later revealed that the organization’s charter fund will comprise 42,000 BTC. Of these, approximately 23,950 BTC will be provided by Tether, 10,500 BTC by Softbank, and 7,000 BTC by Bitfinex.