Twenty One Capital eyes Bitcoin-backed USD loans: Report
Twenty One Capital, backed by Cantor Fitzgerald and Tether, may begin issuing US dollar loans using Bitcoin as collateral.
Twenty One Capital is reportedly exploring a new strategy that would allow it to issue US dollar loans backed by Bitcoin collateral, Bloomberg reported Wednesday, citing a person familiar with the matter.
“Optionality is wealth, for us everything is on the table because we think we can do anything,” a spokesperson for the crypto firm reportedly said.
Twenty One Capital, backed by Cantor Fitzgerald, has expanded its Bitcoin holdings to at least 43,500 BTC, around 1,500 Bitcoin (BTC) more than originally projected. The firm recently acquired approximately 5,800 BTC from stablecoin issuer Tether, pushing its total holdings to an estimated $5.13 billion at current prices.
