With BlackRock announcing its first digital fund last week, it’s game on for asset managers and tokenization. A handful of incumbent asset managers have led the way, and none more so than WisdomTree (AUM $100 billion). Now it announced it was granted a trust company charter by the New York State Department of Financial Services (NYDFS).
Not only does this mean it can offer its WisdomTree Prime digital asset wallet to New Yorkers, but it also allows it to launch a stablecoin, the WisdomTree Dollar Token. WisdomTree Prime enables access to a variety of digital assets. This includes WisdomTree’s digital funds, crypto and tokenized gold held in custody by HSBC. The asset manager launched the Prime app in the middle of last year, starting with 21 states. Subsequently, it unveiled a Visa card that lets investors pay for coffee with digital gold tokens.
With the new license, WisdomTree is also an authorized custodian for cryptocurrency.
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