Global Asset Manager Wisdomtree entered the full stable space after the adoption of the American engineering law, aimed at strengthening the infrastructure of the digital dollar for its ONCHAIN financial products.
According to Will Peck, head of integrated digital assets, is a key element in its integrated strategy to serve retail users and institutional users.
The USDW is issued by the Wisdomtree Digital Trust Company, a checkered trust in New York, to facilitate the digital dollars movement for payments and to support the company’s tokenized investment products – in particular, its US money market fund, the Money Market Government (WTGXX).
Investors will receive dividends in the USDW on eligible assets or reinvest in a dividend reinvestment program, if necessary, said Peck.
The company said the USDW is a brand change in its previously named stable Wusd. Cointtelegraph contacted a Wisdomtree spokesperson for more details on the brand change but had not received a response at the time of publication.
By currently operating on the stellar blockchain via Wisdomtree Prime, Stablecoin should extend to additional blockchains over time.
Wisdomtree has described its stablecoin approach as an interoperability layer that allows customers to crawl and ramp out of ramp using stablescoins established like USDC (USDC). The strategy is also designed to support companies’ use cases in ONCHAIN operations, reserve management and treasury operations.
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The economy of American stablescoin is gaining ground
The timing of Wisdomtree by revealing its expanded Stablecoin strategy is not a coincidence, coming in the heels of the adoption of the Act on Engineering – a radical regulatory framework for digital dollars which imposes strict requirements of conformity and disclosure while limiting the foreign deliverance of printed tokens of a dollar.
The Trump administration has made stablecoin legislation a priority, citing the projected growth of the market and the role that digital dollars could play in preserving the global domination of the greenback.
In June, the secretary of the Treasury Scott Bessent referred to the research on the industry believing that the Stablescoin market could extend to 3.7 billions of dollars by 2030.
The Stablescoin market is currently $ 268 billion, according to CoinmarketCap, with USDT de Tether (USDT) and USDC de Circle, commanding approximately 85% of the market.
Favorable regulations and increasing adoption have prompted major financial institutions to explore stabbed. As Cointelegraph recently reported, JPMorgan, Bank of America and Citi are all at the early stages of the development of their own digital initiatives.
BOA’s strategy may be the most complete, CEO Brian Moynihan indicating to shareholders earlier this month that stablecoins are envisaged to modernize the bank’s payment infrastructure.
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