Cantor Badminton Collaborates With Tether, Makes New Projects For Bitcoin Worth IDR 31.6 Trillion

Cantor Fitzgeral made a new project based on Bitcoin. (Photo; Doc. Cryptonews)

JAKARTA The global financial services company, Cantor Badminton, is preparing an ambitious $2 billion project for Bitcoin-based financing. This project will allow the loan of funds in US dollars with Bitcoin as collateral. This move is part of an effort to bring traditional finance closer to digital assets.

The project is led by Howard Lutnick, a candidate for US Trade Minister appointed by President-elect Donald Trump. According to a Bloomberg report, the project is expected to grow to tens of billions of dollars in the next few years.

Cantor airing has long been in a relationship with USDT stablecoin publisher Tether. The company is a custodian for billions of dollars in US government bonds that are Tether's reserves.

According to the latest information, Cantor acquired 5% of Tether's shares, with a value of about 600 million US dollars (Rp9.48 trillion). "We plan to take part in previous profits to fund various strategic opportunities," said Spokesman Tether.

This effort is considered as a strategy to bridge the gap between traditional financial systems and blockchain technology. Cantor, last June, called the Bitcoin financing project an attempt to "maximize Bitcoin potential and increase the integration of digital assets with the traditional financial sector."