ETF Giant WisdomTree Wants to Launch a Stablecoin

WisdomTree seems to be betting big on fintech.

Less than a week after it led a Series A round for blockchain-focused regtech and fintech startup, Securrency, the New York-based asset manager has declared that it would like to launch a stablecoin in the U.S.

The Coin Telegraph, citing Financial News London, reports that WisdomTree “is looking to deploy a digital currency backed to a basket of assets such as gold, fiat currencies or government debt.” It also hopes to secure approval from the U.S. Securities and Exchange Commission (SEC) for the project.

The timing doesn’t seem to be the greatest, however. As the Coin Telegraph notes, regulators have been leaning on stablecoins recently, with Facebook’s proposed stablecoin – Libra – being a subject of the most scrutiny.

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