Jack Mallers, founder and CEO of crypto payments firm Strike, is taking on a new role as CEO of the newly formed Bitcoin-centric company Twenty One.

The announcement that Jack Mallers will be the new Twenty One Capital, Inc. CEO comes after the new company revealed a business venture involving Cantor Equity Partners,a special-purpose acquisition company by a Cantor Fitzgerald affiliate.

Backed by stablecoin issuer Tether and Japanese investment powerhouse SoftBank Group, Twenty One will launch with more than 42,000 Bitcoin ($BTC) under management. The company aims to maximize $BTCownership per share for its investors and will explore opportunities in $BTC-native financial products.

“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. A public stock, built by Bitcoiners, for Bitcoiners,” Mallers said in a statement.

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Maller’s digital payments firm Strike, which has expanded its services significantly in recent months, is a leading provider of Bitcoin payments via Lightning Network.

Apart from unveiling $BTCbrokerage infrastructure, the firm has been instrumental in helping companies and businesses integrate Bitcoin in their corporate balance sheets. In 2024, Mallers predicted Bitcoin price could reach $1 million.

“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,” said Paolo Ardoino, chief executive officer of Tether. “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 aims to launch financial products native to the Bitcoin ecosystem, including lending and capital market instruments. The company also plans to invest in pro-Bitcoin content and media. Overall, its goal is to deliver a pure-play approach that maximizes value for Bitcoin-aligned investors.

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