Expands digital assets opportunity Enables
access to tokenized real world assets (RWA) to broader range of
users Utilizes proprietary tokenization platform and technology
infrastructure
WisdomTree, Inc. (NYSE: WT), a global financial innovator, today
announced the launch of WisdomTree Connect™, a new platform
unlocking tokenized real world assets (RWA) access to a broader
range of users. The vision for WisdomTree Connect is to enable
customers over time to interact with any WisdomTree-issued token,
in any wallet, across supported blockchains.
WisdomTree Connect marks the first time WisdomTree digital funds
will be available directly to clients with their own wallet
infrastructure, including businesses and other institutional users.
Features of this platform will enable WisdomTree to, over time,
offer access to digital funds to other customer-facing platforms
and apps (B2B2C distribution) and retail users with self-hosted
wallets.
Supported by the same proprietary tokenization platform and
technology infrastructure as the direct-to-retail app, WisdomTree
Prime®, WisdomTree Connect is its direct-to-business counterpart
and together the two platforms offer complementary digital assets
solutions across the entire customer spectrum.
The platform solves a key problem for firms seeking integration
between traditional and decentralized finance. For example, a
crypto-native institution looking to purchase a traditional money
market fund for a treasury or cash management solution would
typically have to sell its stablecoins, send fiat currency to its
bank, and then separately purchase a money market fund. WisdomTree
Connect solves for this and allows firms to access yield-generating
products, such as the WisdomTree Government Money Market Digital
Fund (WTGXX), on chain with blockchain-integrated recordkeeping
through an easy-to-use gateway focused on security.
“We’re thrilled to announce the launch of WisdomTree Connect.
With increasing interest in tokenized real world assets, WisdomTree
Connect opens up additional business-to-business (B2B) and
business-to-business-to-consumer (B2B2C) opportunities for
WisdomTree to provide access to digital funds to on-chain firms
without leaving the ecosystem,” said Will Peck, Head of Digital
Assets at WisdomTree.
Users will receive a digital record of the WisdomTree digital
funds into their own wallets, which can be self-hosted wallets or
held with a third-party custodial wallet service. Digital funds
purchased via WisdomTree Connect will be able to be transferred
on-chain on a peer-to-peer basis to other onboarded and eligible
users 24/7/365.
WisdomTree Connect will initially be available via web portal
and API. In the future, WisdomTree is exploring other novel methods
of interaction via decentralized application (dApp).
Once onboarded, institutional users will be able to purchase or
redeem via US dollars, which can also be facilitated via USDC, a
stablecoin that is redeemable 1:1 for US dollars. A separate
stablecoin conversion service is made available by WisdomTree
Digital Movement, Inc., in which stablecoins (i.e., USDC) are
converted into fiat currency (i.e., US dollars) to facilitate a
purchase of WTGXX’s shares via WisdomTree Transfers, Inc., WTGXX’s
transfer agent, and vice versa on redemption. The inclusion of
features that provide fiat-to-crypto on and off ramps further
bridges the gap between traditional and decentralized finance.
Tokens will be initially minted on Ethereum with additional
blockchains anticipated to be added over time. With respect to
WTGXX, WisdomTree Transfers, Inc. maintains the official record of
share ownership via a blockchain-integrated system with respect to
each token on the Ethereum blockchain. Smart contracts associated
with WisdomTree’s tokenized real world assets were created
leveraging Token Factory, part of a suite of digital infrastructure
capabilities DTCC Digital Assets offers. For more information about
WisdomTree Connect, please visit:
https://www.wisdomtreeconnect.com.
The initial tokenized real world asset available via the
WisdomTree Connect platform will be WTGXX. More information about
WTGXX can be found here. The Ethereum token address for WTGXX is
0x1feCF3d9d4Fee7f2c02917A66028a48C6706c179.
About WisdomTree
WisdomTree is a global financial innovator, offering a
well-diversified suite of exchange-traded products (ETPs), models,
solutions and products leveraging blockchain technology. We empower
investors and consumers to shape their future and support financial
professionals to better serve their clients and grow their
businesses. WisdomTree is leveraging the latest financial
infrastructure to create products that provide access, transparency
and an enhanced user experience. Building on our heritage of
innovation, we are also developing and have launched
next-generation digital products, services and structures,
including digital or blockchain-enabled mutual funds and tokenized
assets, as well as our blockchain-native digital wallet, WisdomTree
Prime® and institutional platform, WisdomTree Connect™.*
*The WisdomTree Prime digital wallet and digital asset services
and WisdomTree Connect institutional platform are made available
through WisdomTree Digital Movement, Inc., a federally registered
money services business, state-licensed money transmitter and
financial technology company (NMLS ID: 2372500) or WisdomTree
Digital Trust Company, LLC, in select U.S. jurisdictions and may be
limited where prohibited by law. WisdomTree Digital Trust Company,
LLC is chartered as a limited purpose trust company by the New York
State Department of Financial Services to engage in virtual
currency business. Visit https://www.wisdomtreeprime.com or the
WisdomTree Prime mobile app for more information.
WisdomTree currently has approximately $110.6 billion in assets
under management globally.
For more information about WisdomTree, WisdomTree Connect and
WisdomTree Prime, visit: https://www.wisdomtree.com.
Please visit us on X, formerly known as Twitter, at
@WisdomTreeNews.
WisdomTree® is the marketing name for WisdomTree, Inc. and its
subsidiaries worldwide.
PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE PRIME:
NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT |
MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED BY ANY GOVERNMENT
AGENCY
The products and services available through the WisdomTree Prime
app and WisdomTree Connect are not endorsed, indemnified or
guaranteed by any regulatory agency.
Important Digital Fund Information
You could lose money by investing in the WisdomTree
Government Money Market Fund (WTGXX). Although the Fund seeks to
preserve the value of your investment at $1.00 per share, it cannot
guarantee it will do so. An investment in the Fund is not a bank
account and is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other government agency. The Fund’s
adviser is not required to reimburse the Fund for losses, and you
should not expect that the adviser will provide financial support
to the Fund at any time, including during periods of market
stress.
Carefully consider the investment objectives, risks, charges,
and expenses of the Digital Funds before investing. To obtain a
prospectus containing this and other important information, please
visit https://www.wisdomtree.com/investments. Read the
prospectus carefully before investing.
There are risks associated with investing, including possible
loss of principal. The Digital Funds have limited performance
history. Blockchain technology is a relatively new and untested
technology, with little regulation. Blockchain systems could be
vulnerable to fraud, particularly if a significant minority of
participants colluded to defraud the rest. Potential risks also
include vulnerability to theft, or inaccessibility, and future
regulatory developments could affect its viability.
Cybersecurity attacks affecting a Digital Fund’s third-party
service providers, the application used to transact in Digital Fund
shares, blockchain network, or the issuers of securities in which
the Digital Fund invests may subject the Digital Fund to many of
the same risks associated with direct cybersecurity breaches.
WisdomTree Digital Funds are distributed by Foreside Fund
Services, LLC (FFS). Foreside Fund Services, LLC, (FFS) is not
affiliated with WisdomTree, Inc. and its subsidiaries, nor any
entity mentioned in the press release. FFS does not provide digital
wallet or digital asset services.
Category: Business Update
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version on businesswire.com: https://www.businesswire.com/news/home/20240918119575/en/
Media Relations WisdomTree, Inc. Sarah Richter +1.224.698.0082
wisdomtree@fullyvested.com
Investor Relations WisdomTree, Inc. Jeremy Campbell
+1.917.267.3859 Jeremy.campbell@wisdomtree.com
WisdomTree (NYSE:WT)
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