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Tether is angling to join Cantor Fitzgerald’s Bitcoin financing business, citing a long-term business relationship. A press release by Cantor Fitzgerald omitted the stablecoin issuer but its CEO says a partnership is still in play.
Tether Wants To Join Cantor Fitzgerald’s Bitcoin Offering.
After months of planning, financial services firm Cantor Fitzgerald announced plans to begin providing leverage for institutional investors holding Bitcoin (BTC ($80,506.65)) on their balance sheets. Following the launch, Tether CEO Paolo Ardoino has confirmed an interest in striking a partnership with Cantor Fitzgerald.
In an interview with Bloomberg, Ardoino highlighted Tether’s interest in the Bitcoin lending business, stating that the partnership is the “right thing to do.” Ardoino adds that the partnership will be mutually beneficial to both entities given their wealth of experience.
The Tether CEO says Cantor Fitzgerald has relationships with all the institutional borrowers, making it an ideal partner. Furthermore, Ardoino says Tether is a “great partner” given its leading position in tokenization and the Bitcoin ecosystem.
“Bitcoin lending is very interesting to us and there are huge opportunities,” said Ardoino. “Joining forces between Tether and Cantor Fitzgerald is the right thing to do.”
The move follows Thailand’s SEC recognition of USDT ($1.00) as an approved cryptocurrency. The stablecoin issuer is rippling with activity after its exclusion by the EU under the MiCA playbook.
Ardoino Wants The Stablecoin Issuer To Play a Bigger Role In US Stablecoin Ambitions
The Tether CEO has announced his intention to play a central role in America’s stablecoin plans. Despite being based outside the US, Ardoino says USDT is in a prime position to promote the US dollar as the global reserve currency.
US Treasury Secretary Scott Bessent confirmed a policy change, indicating plans by the US to turn its focus to stablecoins. While Tether wants to join the US plans, it faces stiff competition from the XRPL ledger-based RLUSD and USDC ($1.00).
“We will keep the US the dominant reserve currency and use stablecoins to do that,” said Bennett.
Ardoino noted that Tether’s base of operations outside the US does not impede its ability to promote US interests. With boots on the ground and its sheer market size, Ardoino says Tether has found its product market fit. However, advanced initiatives by PayPal’s PYUSD plans to reduce USDT’s market share.
The post Tether Confirms Interest In Cantor Fitzgerald’s Bitcoin Financing Business appeared first on CoinGape.
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