Collateral
Loan denomination
Cantor Fitzgerald
Cantor Fitzgerald · bilateral, unpublished · observed from 2026-07-21
What we can see here. Rates are collecting, quantity is not available, and composition is not available. Each section below states its own case. Sections are never dropped when they are empty — an absent section and an absent number are different things.
1Structure
What kind of credit this is. Attributes, not scores — one column per structural property, factual values only, each with the contract, document or filing establishing it. Nothing here is ranked or weighted.
Oracle dependency what price the loan depends on, if any | undisclosed Cantor Fitzgerald (https://www.cantor.com) — bilateral institutional financing. No rate, LTV, price source or liquidation policy is posted; terms are negotiated per counterparty. |
Liquidation what happens when collateral falls | undisclosed Not published — bilateral and unpublished (liquidation_model = bilateral_unpublished). Institutional BTC financing of this kind is normally margined under a negotiated agreement, but no public document establishes it for this book. |
Term whether the loan has an end date | undisclosed Not published; terms are per-deal (cefi_credit_rates.term_days is null). |
Rate certainty whether the rate can move after origination | undisclosed Not published (rate_type = bilateral_unpublished). This desk carries computable_ccs = false for exactly this reason: there is no posted rate to anchor. |
Rate mechanism how the rate is set | bilateral, unpublished No rate card is published. Cantor Fitzgerald offers bilateral institutional Bitcoin financing and posts no rate, term or LTV: cefi_credit_rates carries rate_type = bilateral_unpublished, computable_ccs = false, and both apr_low and apr_high NULL, against a source_url (https://www.cantor.com) that is the firm's homepage rather than a rate card. NOTE — the value beside this source overstates what is known: posted_card is inherited from the CeFi desk class and is not true of this desk. Correcting the value needs a v1 §8.2 decision, since that enum has no state for an unpublished bilateral rate and rate_mechanism also selects this venue's mechanism-native panel. Owed in venue_readiness_matrix.md §4. |
Custody who holds the collateral | third-party custodial Reported custody via Copper and Anchorage (custody_model = custodial_copper_anchorage) — the one structural property of this book that is public. First borrowers reported as FalconX and Maple. |
Collateral what secures the borrowing | BTC (desk-held, representation not disclosed) cefi_credit_rates.collateral_class = btc for every borrow product on this desk. Desks take native BTC into custody rather than a wrapped on-chain representation, so there is no token address to cite — which is also why none of this collateral is independently observable. |
Recourse whether liability stops at the collateral | undisclosed Not published. |
2Rates
What it costs to borrow here, and what it pays to lend, both sides never conflated. Rates are normalised to a continuously compounded annual figure so venues quoting four different ways are comparable.
collecting
Registered from its published terms and awaiting ingestion. Coverage says what the data will support once it runs, not what is published today.
3Quantity
Collateral locked and debt outstanding, and the origination, repayment and net flow behind them.
not available
CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank, per spec §8.1.
4Composition
Who owes it and on what terms: LTV distribution, how long positions actually reside, position-size concentration, and liquidation incidence by origination-LTV cohort.
not available
CeFi desks publish no loan-level data. Unobtainable, not unbuilt.
5Markets
The individual markets this venue runs in scope. A venue is usually a family — one row per (collateral representation, debt asset, chain).
No per-market breakdown is published for this venue. Either its markets are not individually resolved yet, or the venue does not partition into markets in a way that would tell a reader anything.
6Terms, without a price
Specific to how this venue sets its rate — bilateral, unpublished. Every venue of the same mechanism class gets the same panel.
What this desk discloses about how it lends, and what it does not. There is no published rate, so none is charted and none is inferred.
This venue runs no contracts to resolve, so nothing on this page is read from a chain. Its structural attributes above are established from published terms, documentation or filings, and each cell carries the specific source establishing it — which is why the rows here are visibly thinner than an on-chain venue’s, and why an unpublished property is marked undisclosed rather than filled with the industry convention. Last resolved 2026-07-24.