WisdomTree Intends To Launch A Regulated Stablecoin In The US
WisdomTree Intends To Launch A Regulated Stablecoin In The US
January 14, 2020
WisdomTree Intends To Launch A Regulated Stablecoin In The US
WisdomTree Intends To Launch A Regulated Stablecoin In The US
January 14, 2020

WisdomTree, the asset manager, intends to launch a regulated stablecoin in the United States, as reported by FNLondon, a financial news outlet, on January 13.

As per the report, WisdomTree is looking to deploy a digital currency backed to a basket of assets such as gold, fiat currencies or government debt. The firm also intends to obtain approval by the U.S. Securities and Exchange Commission (SEC) for its project.

However, the news follows a recent announcement that WisdomTree invested in a startup called Securrency Inc., one of the top institutional-grade blockchain builders in the financial and regulatory space.

At the time, the firm announced that it is looking to harness blockchain technology for the ETF market.

According to its website, WisdomTree has a total of $63.7 billion in assets under management.

Thus, WisdomTree’s focus on seeking SEC’s approval is interesting given the adversity that regulators have shown to other managed stablecoins, including Facebook’s Libra project.

ALSO READ :  Jing’an District Of Shanghai Starts Offering Blockchain-Based Discount Coupons

Source: fnlondon.com | ir,wisdomtree.com | cointelegraph.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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