Billion Dollar Asset Manager WisdomTree Planning Stablecoin Launch

  • WisdomTree, which oversees $63 billion in assets, is planning to launch a new stablecoin in the US.
  • WisdomTree is already in discussions with the SEC to have the digital currency fully compliant for launch. 

Asset manager WisdomTree is reportedly planning to launch a fully regulated stablecoin in the United States backed by a basket of assets. 

According to a report by FNLondon on Jan. 13, WisdomTree, which oversees $63.8 billion in assets, is rushing to launch a stablecoin in the U.S. ahead of other industry giants such as BlackRock and Fidelity Investments.

The report claims the new digital currency will be pegged to a basket of assets, including gold, fiat currencies and/or government debt. WisdomTree intends to have the product fully approved and regulated and is said to be already in discussions with the United States Securities and Exchange Commission (SEC). 

The news follows a press release issued on Jan. 7 announcing that WisdomTree had invested into Securrency, Inc., a startup geared towards building institutional-grade blockchains in the financial space. 

The initial report claimed WisdomTree intended to work with Seucrrency to pursue the integration of blockchain technology into the exchange-traded fund (ETF) ecosystem. 

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