WisdomTree is a New York-based company, which controls approximately $63 billion in assets. It specializes in exchange-traded funds. Last year the company launched on Swiss stock a product, which helps investors with exposure to bitcoin.
Additionally, last week WisdomTree got the title of the largest investor in a $17.65 funding for the Securrency. The former is a startup company. It specializes in tools made to guarantee regulatory compliance on blockchain systems.
As it seems, WisdomTree has been planning this new development for some time. Corporate-strategy director William Peck talked about the company’s vision. He says that WisdomTree considers digital assets and cryptocurrencies as a natural extension of its business in exchange-traded Funds. Regulated WisdomTree stablecoin with its structure and purpose doesn’t differ a lot from an ETF. The former is strengthened by dollar-dominated assets — for example, U.S. Treasury bonds.
Besides, if a stablecoin originates from a regulated money manager, like WisdomTree, the chance of warmer reception from U.S authorities is higher. Last year they criticized Facebook’s proposal to launch a token for its 2.3 billion users so that people could use it for payments.
Crypto industry programmers have already launched dollar-linked tokens, such as MakerDAO’s Dai or USD Coin. They are a de facto form of cash, even though they don’t submit regulations as registered securities.
According to Peck, the company hasn’t made any formal proposals yet. But it’s usual practice to discuss the plans with regulators before an official filing. Peck declared that WisdomTree envisions a market transacting digital assets today within the existing crypto-native community. Such development can place the company as a leading figure in the longer term.
So far, WisdomTree hasn’t provided any timelines for its plans. But as blockchain-based infrastructure proves to become an essential part of financial services, the company strives to evolve in that way too.
Cryptocurrencies have evolved beyond Bitcoin, giving rise to a new wave of digital assets known as altcoins. These alternative coins…
Key Points Sweden's economy contracted by 0.1% in Q1 2024, defying the expected 0.2% growth. March saw a 0.4% drop…
Key Points Bitcoin recently reported at $62,528, with a historical peak near $73,000. Estimates range from $70,000 by March to…
Key Points: S&P 500 achieved its best weekly performance since November, rising 2.7% and reversing previous downturns. 80% of S&P…
Key Points EUR/USD is trading at 1.0710, boosted by a dip in the US Dollar Index below 106.00. Fed is…
Key Points Oil prices declined as Brent crude and WTI futures fell, erasing gains from the previous Friday. Israel-Hamas talks…
This website uses cookies.