ChainCatcher reports that Wall Street financial giant Cantor Fitzgerald is assisting the Bitcoin sidechain and open-source decentralized network VerifiedX in closing a $15 million funding round. The VerifiedX Foundation announced on Wednesday that it has raised this amount, which will be used to expand its custody partnership with BitGo, a NYSE-listed custodian, and to launch its wrapped token product, vBTC, on centralized exchanges. Cantor Fitzgerald is serving as the banking partner for this financing round, and the announcement did not disclose specific investors. VerifiedX is a Bitcoin financial operating system offering products such as self-custody, instant settlement, programmable finance, and native Bitcoin utility. Unlike traditional wrapped tokens, when holders create vBTC, the network generates a unique native Bitcoin address within the token itself; holders deposit their Bitcoin into this self-custodied address, and the token remains on the Bitcoin ledger at all times, never leaving the Bitcoin ecosystem. Cantor Fitzgerald is one of the earliest Wall Street institutions to support Bitcoin and currently holds reserve assets for Tether’s USDT stablecoin. Its former chairman and CEO, Howard Lutnick, served as a consultant for Trump’s 2024 campaign and is now the U.S. Secretary of Commerce.
Cantor Fitzgerald Advises VerifiedX on $15 Million Funding Round
ChaincatcherShare
Summary
Cantor Fitzgerald is advising VerifiedX on a $15 million project funding round, as reported in on-chain news. The Bitcoin sidechain project will expand its custody partnership with BitGo and list its wrapped token, vBTC, on centralized exchanges. Cantor Fitzgerald serves as the banking partner, though no investors were named. VerifiedX provides self-custody, instant settlement, and native Bitcoin utility. Its vBTC generates a unique Bitcoin address for each holder, keeping the token recorded on the Bitcoin ledger. Cantor, an early Bitcoin supporter, holds reserves for Tether’s USDT.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.