Cantor Fitzgerald Helps VerifiedX Raise $15 Million for Bitcoin Sidechain Expansion

VerifiedX has raised $15 million in a financing round backed by Cantor Fitzgerald as banking partner, according to Bitcoin Magazine. According to ChainCatcher, the funds will be used to expand its custody partnership with BitGo and to bring its wrapped token product, vBTC, to centralized exchanges. The announcement did not disclose the specific investors in the round. VerifiedX said it is a Bitcoin financial operating system offering self-custody, instant settlement, programmable finance, and native Bitcoin utility. Unlike traditional wrapped tokens, VerifiedX said vBTC creates a unique native Bitcoin address inside the token when a holder mints it, allowing Bitcoin to be deposited into a self-custody address while the token remains on the Bitcoin ledger and within the Bitcoin ecosystem. Cantor Fitzgerald is one of Wall Street's early Bitcoin supporters and currently helps custody reserve assets for Tether's USDT. Its former chairman and CEO Howard Lutnick served as a Trump 2024 campaign adviser and is now U.S. Secretary of Commerce.