WisdomTree may launch a regulated stablecoin similar to USD-denominated asset-backed ETF

Asset management company WisdomTree is working to provide customers with digital assets, including stablecoins whose value is closely related to the US dollar. The company's director of strategy, William Peck, recently stated that the company sees cryptocurrencies and digital assets as a natural extension of exchange-traded fund (ETF) business. Peck believes that the regulated WisdomTree stablecoin may be similar in structure and use to ETFs backed by dollar-denominated assets such as US short-term Treasuries. It will attract crypto traders because, in theory, it can easily run on a blockchain-backed network. According to Peck, WisdomTree has not submitted any public, formal digital asset proposals to securities regulators, and he has declined to provide any planned timelines.