Stablecoin issuer Tether (USDT) is reportedly using Wall Street bank Kantor Fitzgerald to manage a $39 billion bond portfolio. wall street journal Reported on February 10th.
According to reports, the stablecoin issuer will begin using Kantor Fitzgerald in 2021 after reaching a settlement agreement with financial regulators over the management of its reserves.
WSJMore report The portfolio suggests that Wall Street firms may be happy to do business with cryptocurrency firms despite regulatory uncertainty in the industry.
Cantor Fitzgerald is a primary dealer for the US Treasury and is therefore one of the few companies that does business directly with the US Federal Reserve.
Earlier this week, Tether reported that it had assets worth $67.04 billion as of December 31st. Assets included his $39.2 billion in US Treasuries. Other assets were held in money market funds, cash, bonds, precious metals, and other items.
Tether was still not responding of crypto slate Request for comments at press time.