Cantor Fitzgerald Backs VerifiedX Foundation With $15 Million Bitcoin-Backed Financing Round

Financial services firm Cantor Fitzgerald is supporting Bitcoin sidechain and open-source network VerifiedX Foundation's $15 million financing round.

The funding will be used to expand custody relationships with NYSE-listed custodian BitGo, and to list vBTC, VerifiedX's wrapped token product, on centralized exchanges.

As the partner bank for this round, Cantor Fitzgerald is helping VerifiedX with its banking needs. Wrapped tokens like vBTC represent Bitcoin, allowing traders and investors to use their Bitcoin holdings across other platforms that aren't natively compatible with the Bitcoin network.

vBTC works differently from traditional wrapped tokens. When a holder creates a token, the network generates a unique native Bitcoin address inside the token itself, and the holder deposits Bitcoin to that self-custodial address. The coins stay there, visible on Bitcoin's own ledger, and never leave the ecosystem.