Cantor Fitzgerald announced that Anchorage Digital and Copper will serve as collateral managers and custodians for the firm’s new global bitcoin financing business, which will provide leverage to institutional investors who hold bitcoin.
Anchorage Digital, a crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, and settlement, is home to the only federally chartered crypto bank in the US, Anchorage Digital Bank NA. Copper is a digital asset infrastructure company that provides secure digital asset custody, prime services, and collateral management for institutions.
Michael Cunningham, head of Bitcoin Financing at Cantor Fitzgerald, said in a statement: “We are launching with $2 billion in initial financing and expect to substantially grow the operation over time.” Cantor first announced plans to launch bitcoin financing in July 2024.
“Cantor Fitzgerald and Anchorage Digital share a track record of integrating bitcoin into the world of traditional finance,” said Nathan McCauley, CEO and co-founder of Anchorage Digital, in a statement. “Our partnership marks a major step forward for the bitcoin financing ecosystem — built on the safety and security of federally regulated digital asset custody.”
“Institutional investors are increasingly looking to diversify their portfolios and identify secure routes into the digital asset market,” said Amar Kuchinad, CEO of Copper, in a statement. “This significant partnership with Cantor Fitzgerald will meet the growing demand for sophisticated financing solutions, with Copper.co’s lending and collateral management platform providing a complete toolkit for secure and strategic asset handling.”