WisdomTree Investment announces the new stablecoin backed by fiat currencies
The intention is to create a cryptocurrency that complies with all the respective regulations to operate in US territory
The management company of financial assets and publicly traded funds in New York-based stock exchanges, WisdomTree Investment, announced plans for the creation of a new stablecoin that complies with all the respective regulations to operate in US territory.
As disseminated by some news agencies, WisdomTree is already formalizing procedures before the US Securities and Exchange Commission (SEC) with the aim of making this body the entity responsible for the approval and regulation of the new currency. However, there is still no greater detail of the progress that the procedure may take.
What is known is that the company plans to create its own digital currency whose value is linked to the US dollar, which would be backed by a basket of assets consisting of gold, fiat currencies and government debt bonds.
With the good reputation that WisdomTree enjoys among investors from various parts of the world, there is no doubt that this plan is a great sustainable financial tool that will continue to strengthen the US economy.
This company has been developing strategic steps within the cryptocurrency ecosystem and blockchain technology, part of it is based on the bitcoin exchange product launched in various stock exchanges and also participated in a financing round for the security token Securrency.