WisdomTree will launch secured stablecoin $ 63 billion assets

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WisdomTree will launch stablecoin secured by basket of assets

New York-based company WisdomTree, an asset manager worth $ 63 billion, plans to launch its own stablecoin, which will be provided with a basket of assets denominated in US dollars.

According to William Peck, director of corporate strategy at WisdomTree, the company sees digital assets as a natural extension of the business.

According to him, the structure and purpose of stablecoin will be similar to exchange traded funds (ETFs) and assets calculated in US dollars, for example, government bonds. But stablecoin will be more attractive for cryptocurrency traders, as it can be launched on various blockchains.

“We certainly see the emerging market in the current cryptocurrency community trading digital assets. In the long run, this can lead us to a leading position, ”Peck emphasized.

It is possible that the launch of a stable cryptocurrency from a regulated company that manages assets in the US market will be more warmly received by the country’s authorities. However, according to Peck, WisdomTree has not yet filed a registration request for stablecoin to regulatory authorities.

“We believe that blockchain-based infrastructure will become increasingly important and critical in financial services. By creating a stablecoin, WisdomTree can be involved in the development of this world, ”concluded Peck.