The Global Asset Manager Wisdomtree entered the full-stack Stablecoin Space following the passage of the US Genius Act, aimed at strengthening the digital dollar infrastructure for onchain financial products.
The US dollar-back Stablecoin, USDW, is a key element of its integrated approach to serve both retailers of retail and institutional, According to For Will Peck, head of digital assets at WisDomtree.
USDW was issued by WisDomtree Digital Trust Company, a confidently charter of New York, to facilitate the movement of digital dollars for payments and to support the company’s tokenized investment products-notable-notably, its US currency market funding, its Digital Money Market Digital (WTGXX).
Investors will receive USDW dividends in deserving properties or re -investing through a dividend reinvestment program available, Peck said.
The company said USDW is a rebranding of its previously named Wusd Stablecoin. Cointelegraph contacted a WisDometree speaker for more details on the rebrand but did not receive a response at the time of publication.
Currently operating on the stellar blockchain by WisDomtree Prime, Stablecoin is expected to expand to further blockchains over time.
WisDomtree described stablecoin approach as a layer of interoperability that allows theUSDC). The approach is designed to support cases of corporate use of onchain investment, reserve management and treasury operation.
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US stablecoin economy gets traction
WisDomtree’s timing in uniting expanded stablecoin approach is not coincidental, which will come to the heel of The passage of the Genius Act -A a framework of regulation regulation for digital dollars that imposes strict compliance and disclosure requirements while restricting foreign releases of dollars.
Made by the Trump administration Stablecoin law is a priorityciting the expected market growth and the digital dollar role can play in maintaining global greenback dominance.
In June, the Treasury Secretary Scott Bescent referred to industry research estimated that the Stablecoin market could expand to $ 3.7 trillion by 2030.
The Stablecoin market currently costs $ 268 billion, according to CoinMarketCap, with Tether’s USDT (USDT) and the USDC of the circle that regulates nearly 85% of the market.
The desirable regulations and increases of adoption motivate major financial institutions to explore stablecoins. Number Cointelegraph recently reportedJPMorgan, Bank of America and Citi are all in the early stages of developing their own digital dollar initiatives.
Boa’s approach may be the most comprehensive, with CEO Brian Moynihan telling shareholders earlier this month Stablecoins are considered to modernize bank payment infrastructure.
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