A New York-based exchange-traded fund (ETF) WisdomTree, which is currently the industry's seventh-largest ETF provider in the U.S. with an asset portfolio for $ 63.8 billion, plans to launch a regulated stablecoin, iHodl Russia has learned.
WisdomTree reportedly wants the U.S. Securities and Exchange Commission (SEC) to approve its stablecoin and oversee it in the future.
WisdomTree founder Jonathan Steinberg claims that in the space of regulated stablecoins, WisdomTree plans overtake State Street, Fidelity, and other companies.
Earlier iHodl reported that cryptocurrency exchange Kraken added support for the second-biggest stablecoin in the world USD Coin (USDC) starting January 8.
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