The story comes a week after the firm led a Series A round in a blockchain startup.

WisdomTree is pushing to launch a regulated cryptocurrency in the U.S. markets. The firm’s stablecoin would be pegged against a basket of assets – which could include government debt, the U.S. dollar or even gold. The firm is seeking approval form the Securities and Exchange Commission. Financial News reported on the story late Sunday night.

WisdomTree and Cryptocurrency

Meanwhile, the push for its own stablecoin comes a week after the company announced it led a $17.65 million investment round in blockchain startup Securrency. Further, investors included Panthera Capital Investments, Abu Dhabi Investment Office (ADIO), Monex Group, Venture Capital Firms RRE Ventures, and Strawberry Creek Ventures.

Reports also indicate that the company is trying to beat rivals BlackRock and State Street to market.

“You want to be early. We came to ETFs 13 years after State Street,” WisdomTree founder and CEO Jonathan Steinberg told Financial News. “This gives us an opportunity to be ahead of the State Streets, Fidelitys, on regulated stablecoins.”

Wisdom was also active in the crypto space before the Securrency investment. It launched an ETF tied to Bitcoin in 2019 on the Swiss stock exchange. However, it has sat back like many other companies due to the SEC’s repeated refusal to approve crypto-related ETFs.

Related: Fidelity Digital Assets Secures New York State License