Source: Blockchain Knight

According to Bloomberg on Sunday, financial services company Cantor Fitzgerald, which is a partner of Tether Bank, is seeking cooperation with stablecoin issuers to launch a program that allows customers to borrow against BTC. dollar plan.

Currently the company plans to open loans based on $2 billion in BTC, but this is expected to increase to tens of billions of dollars.

Cantor Fitzgerald has been working hard to raise funds for the plan, which has not yet been officially launched.

Relevant sources said: "If Tether decides to cooperate, it will become one of several financial contributors."

Cantor Fitzgerald has established deep business ties with Tether.

Cantor Fitzgerald’s custody business earns tens of millions of dollars a year in fees because it holds billions of dollars worth of U.S. Treasury securities, which are the world’s largest stablecoin, Tether (USDT) backing.

In fact, Cantor Fitzgerald continued to provide bank support for Tether even if many banks around the world refused.

In addition, according to the "Wall Street Journal" report on November 24, Cantor Fitzgerald agreed to acquire approximately 5% of Tether's shares for approximately US$600 million last year.

A few days ago, Trump nominated Cantor Fitzgerald CEO Howard Lutnick as the next secretary of commerce. He is also one of Trump's transition advisers.

Once confirmed by the Senate, Lutnick will resign as CEO of Cantor Fitzgerald.

With Lutnick joining Trump next year, Tether is expected to gain important support.

According to the "Wall Street Journal" report, Giancarlo Devasini, who is suspected to be Tether's largest shareholder, previously said that Lutnick will use his influence to resolve any potential threats to Tether.

The Wall Street Journal report also stated that as a transition adviser, Lutnick already has a say in who Trump selects for other senior positions, including those who may oversee Tether.

Tether has often been mired in controversy, with some questioning whether Tether has enough reserves to enable USDT to be backed 1:1 by the U.S. dollar.

But Lutnick has personally guaranteed Tether many times.

In January of this year, Lutnick confirmed that Tether did have sufficient reserves to support its stablecoin.

In addition, the Wall Street Journal reported last month that Tether is under investigation in the United States for possible sanctions and anti-money laundering violations.

However, Tether refuted this.

Lutnick, a well-known supporter of BTC and digital assets, said in September this year: “Regulators should treat BTC as a commodity, just like gold or oil.”