WisedomTree Hopes to Launch Stablecoin in the US

Must Read

Get Bitcoin with Arcade Games

RollerCoin is an online, virtual bitcoin mining game where you compete against your friends to mine bitcoins....

Visa and Mastercard Raise fees, Merchants faces towards Crypto

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe...

Get $200 Bitcoin for free hourly

Win upto $200 in Bitcoins every hour, no strings attached! Multiply your bitcoins, free weekly lottery with...
- Advertisement -
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

Visa and Mastercard Raise fees, Merchants faces towards Crypto

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe...
- Advertisement -Earn Free Bitcoin

CubeBit has come forward to sponsor Future Blockchain Summit 2020

November-18-20 - CubeBit 2.0 has come forward to sponsor Future Blockchain Summit 2020. The event will be held at the Dubai World Trade Centre,...

USDT Is A Game Changer For Online Poker

CoinPoker - the flagman of the industry, the biggest and the oldest pure crypto poker room is the first to...

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...