Tether is the main orchestrator behind this operation.
Just remember that Cantor holds a lot of their Treasuries, so their interest is pretty aligned.
With this move with some reputable tradfi players, Ardoino is trying to access Wall Street, something that wasn’t in the cards until a few months ago for an offshore company.
More on that later.
Tether is the big player in this industry and with their treasury engages bigger to US. bond market, it can make Bitcoin and cryptocurrency companies and investors feel safer.
Though there are more reports and better transparency with time, Tether and their USDT minting are still something vague, shady and there are risk of address and fund freeze by Tether company through smart contracts.
Tether minted more USDT.PSA: Most Stablecoins Can Be Frozen, Even in Your Own WalletsUSDT banned addresses with total 1,434,061,573 USDT in those banned addresses.
https://dune.com/phabc/usdt---banned-addressesA latest audits report.