WisedomTree Hopes to Launch Stablecoin in the US

Must Read

Bitcoin Eyeing $11800 After Intense Drop

As we saw earlier today, Bitcoin started by declining from $11349 to $11176, roughly 1.76%.

USDT Is A Game Changer For Online Poker

CoinPoker - the flagman of the industry, the biggest and the oldest pure crypto poker...

Can XRP defend its price?

Could XRP defend its price action, and rise back to $0.30? Here is my view on how...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Asset manager WisdomTree intends to launch a regulated stablecoin in the United States, financial news outlet FNLondon reported on Jan. 13.

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.

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.

Regulatory pressure on stablecoins

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.

During the same month, the president of the European Central Bank, Christine Lagarde, said that the financial institution should be ahead of the curve regarding the demand for stablecoins.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company dedicated to artificial intelligence and...

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...