SoftBank Group Corp., Tether and Bitfinex have teamed up to launch Twenty One Capital, Inc., a bitcoin-native company, through a business combination with Cantor Equity Partners (CEP).

Cantor said in a statement on Wednesday that Twenty One, a newly formed entity, has entered into a definitive agreement for a business combination with CEP, a special-purpose acquisition company (SPAC) sponsored by an affiliate of Cantor Fitzgerald, a global financial services and real estate services holding company.

At the closing of the business combination, Twenty One will be majority-owned by Tether, Co-founder of Twenty One and stablecoin issuer, and Bitfinex, with significant minority ownership by SoftBank.

Twenty One and CEP have also entered into subscription agreements with investors to raise, at closing, $585 million of total additional capital consisting of $385 million through convertible senior secured notes and $200 million through a common equity PIPE financing.

The net proceeds from the private investment in public equity (PIPE) offerings, which will close contemporaneously with the business combination, will be used to purchase additional bitcoin and for general corporate purposes.

Twenty One expects to launch with more than 42,000 bitcoin, which would make it the third-largest Bitcoin treasury in the world as of today.

As part of its launch, Twenty One will introduce two key performance metrics – bitcoin per share (BPS) and bitcoin return rate , to reflect its bitcoin-denominated capital structure and bitcoin-focused mindset.

Twenty One will be led by Co-Founder and Chief Executive Officer Jack Mallers, who has been instrumental in furthering bitcoin’s adoption by institutions, corporations, and governments worldwide, and will continue with his existing roles and responsibilities.

As the Founder and Chief Executive Officer of Strike, he has built one of the world’s leading digital payment providers on bitcoin’s Lightning Network, pioneering bitcoin brokerage infrastructure and Bitcoin’s integration into corporate balance sheets.

“Markets need reliable money to measure value and allocate capital efficiently. We believe that Bitcoin is the answer, and Twenty One is how we bring that answer to public markets,

“Our mission is simple: to become the most successful company in Bitcoin, the most valuable financial opportunity of our time. We’re not here to beat the market, we’re here to build a new one,” said Jack Mallers, Co-Founder and Chief Executive Officer of Twenty One.

Paolo Ardoino, Chief Executive Officer of Tether, said bitcoin is one of the only truly decentralized, immutable, and censorship-resistant asset, and its role as the foundation of a new financial system is inevitable.

“With Jack at the helm, we are proud to support this effort to further bitcoin’s adoption and reinforce its role as the ultimate store of value. At Tether, we have always believed in supporting initiatives that strengthen Bitcoin’s dominance and real-world utility,

“Twenty One will take a Bitcoin-first approach that aligns with our vision—prioritizing accumulation over speculation and building long-term value for those who understand what Bitcoin represents,” he added.

Twenty One is structured to be a day one bitcoin-native company that will strategically allocate capital to increase Bitcoin per share.

The firm intends to develop a corporate architecture capable of supporting financial products built with and on bitcoin.

This includes native lending models, capital market instruments, and future innovations that will replace legacy financial tools with bitcoin-aligned alternatives.

As a pro-bitcoin advocate, the firm plans to produce original Bitcoin-focused content and media.

This pure-play approach will offer investors access to a public company that combines Bitcoin exposure with an operating business building Bitcoin-native products and services.

“Cantor’s relationships with innovative partners are key to unlocking unique opportunities, and we are proud of our role in this extraordinary collaboration between Tether, a foundation for today’s digital asset ecosystem, and SoftBank, one of the world’s preeminent investors,

“With a visionary leader at the helm and backing from two renowned industry leaders, Twenty One is designed to help investors capture value from Bitcoin’s growing global demand and increasing institutional adoption,” said Brandon Lutnick, Chairman and Chief Executive Officer of Cantor Equity Partners, Inc. and Chairman of Cantor Fitzgerald, L.P.

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