WisdomTree Granted Trust Company Charter by New York State Department of Financial Services (DFS), WisdomTree Prime™ Set to Launch in New York
The trust company charter authorizes WisdomTree to perform fiduciary custody of digital assets, including digital wallet services, to issue and exchange DFS-approved stablecoins and manage stablecoin reserves under the newly formed entity,
“The New York State Department of Financial Services is the premier regulator for businesses that engage in digital asset activity. This well-established trust company charter program – which long predates digital assets – is based on bank-grade regulation, allowing us to offer products that capitalize on innovation without sacrificing customer protection,” said
Initially,
“Held to the highest compliance standards in the industry, a
WisdomTree Prime offers one integrated ecosystem to save, spend, and invest – bringing the consumer’s financial life on-chain. With its trust charter and fiduciary powers, the trust company can offer enhanced protections to its customers, including with respect to its safekeeping of assets. Additionally, WisdomTree plans to use the
WisdomTree Prime is available in the Apple
For more information about the WisdomTree Digital Funds, please visit www.wisdomtree.com/investments/digital-funds.
About WisdomTree
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models, solutions and products leveraging blockchain-enabled 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™.*
*The WisdomTree Prime digital wallet and digital asset services are made available through
WisdomTree currently has approximately
For more information about WisdomTree and WisdomTree Prime, visit: https://www.wisdomtree.com.
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WisdomTree® is the marketing name for
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 are not endorsed, indemnified or guaranteed by any regulatory agency.
Category: Business Update
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