Last week, WisdomTree led $17.65 million, Series A round for security token startup "Securrency".
WisdomTree Investments is a traditional asset management firm with over $60 billion in client assets.
According to a report from Financial News London on Monday the proposed stablecoin will be pegged to a group of assets, such as gold, fiat currencies or government debt.
It is not clear if the firm has initiated talks with the SEC, but WisdomTree wants the Securities and Exchange Commission to approve and regulate its upcoming stablecoin.
Just last month, it launched a bitcoin exchange-traded product (ETP). The ETP is listed on Switzerland’s primary stock exchange SIX and allows investors to gain access to bitcoin without the need to hold it directly.
This article is not intended to be financial advice. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Crypto Block does not provide investment, tax, legal, or accounting advice.
As always, do your due diligence before investing, and never invest more than you can afford to lose.
Photo credit: Fortune.com