Wisdom Challenge asset manager launches native stablecoin - Wisdom Challenge has announced the imminent launch of its stablecoin. The asset manager is following in the footsteps of Black Rock and Fidelity Investissement, two financial behemoths who have also decided to issue their own cryptocurrency.

Wisdom Challenge and its native stablecoin

WisdomTree, an asset manager officially enters the cryptocurrency race. The financial institution, which manages more than $ 63.8 billion, plans to issue a stablecoin whose value will be indexed to a basket of assets, including gold and several fiat currencies.

Wisdom Challenge asset manager launches native stablecoin

WisdomTree is said to be in talks with U.S. authorities to obtain the necessary authorizations to create and disseminate cryptocurrency in the U.S. market.

Wisdom hopes to succeed in issuing the first SEC-regulated stablecoin on the market, taking short Facebook and several financial institutions that have not yet received the approval of the federal agency to launch their cryptocurrency in the United States .
Large financial companies and cryptocurrencies

Institutional investors are gradually becoming involved in the cryptocurrency industry. Thus, at the start of the year, Wisdom Tree openly declared its interest in this sector after having invested approximately $ 17.7 million in the blockchain start-up Securrency.

 Fund manager Fidelity Investments has been one of the most active financial institutions in the emerging cryptocurrency market. In 2018, the financial institution announced the creation of a blockchain working group.

“The success of XRP is inevitable thanks to Ripple's efforts”

According to a famous crypto-analyst, the success of XRP would be due to the many promotions made by Ripple around its cryptocurrency. These positive statements have been warmly received by the crypto community.

Ripple's guaranteed success

According to a crypto market expert known by the pseudonym DM Logic, the success of XRP would be guaranteed by the efforts made by Ripple around its native cryptocurrency.

    Since people are still wondering, let me be clear: I stopped making videos and tweeting so much about # XRP because I think its success is inevitable because of @Ripple! For me, there is no point in continuing to persevere on this path. Deal concluded, ”said crypto analyst DM Logic.

In recent years, Ripple leaders have multiplied the rhetoric that favors the XRP. Brad Garlinghouse, CEO of Ripple, recently pointed out that all cryptocurrencies are bound to disappear from the market, with the exception of XRP and a handful of crypto-tokens that have really shown their usefulness to investors.

The relationship between XRP and Ripple

However, Ripple is currently embroiled in legal turmoil after investors accused the XRP of being a security unregistered with the SEC.

Brad Garlinghouse, for his part, assured that the XRP is not categorized as a financial security and that it operates independently of the crypto-enterprise Ripple and any central entity.

    “I think it is very clear that XRP is not a title. It exists independently of the company, Ripple. If Ripple, the company closes tomorrow, the XRP ecosystem will continue to exist. It's independent open source technology. ”