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WisdomTree plans to launch its own regulated stablecoin

WisdomTree Investments, Inc. a New York-based exchange-traded fund and exchange-traded product sponsor and asset manager is planning to launch a new stable coin pegged to number of assets such as gold,fiat currencies and government debt. The aim to be the first among giants and ahead of State Streets in launching a regulated stablecoin.

Jonathan Steinberg, founder and chief executive officer of WisdomTree , said

“You want to be early” .We came to ETFs 13 years after State Street. This gives us an opportunity to be ahead of the State Streets, Fidelitys, on regulated stablecoins.”

Just last month ,it launched a bitcoin exchange traded-product (ETP) which allows users to access bitcoin without holding it .The ETP later listed on leading crypto-based ETP exchange .

In January 2020 ,WisdomTree financed $17.65 million to security token startup Securrency Inc. with Abu Dhabi Investment Office (ADIO) and other investors in series A round.

230 cr
230 Cr has been interested in the cryptocurrency since 2017 when his friend introduced him to bitcoin .Interested by the bitcoin technology and suffering from centralised banking system he then decided to pursue his career in this space .

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