WisdomTree, a global financial innovator, announced the ability for users to select WisdomTree Government Money Market Digital Fund (WTGXX) as a spending source on the WisdomTree Prime Visa® Debit Card.
Traditionally, low-yield or no-yield checking accounts have been used to fund debit card spending, but WisdomTree Prime users can use their yield-bearing money market fund balances to fund debit card spending. You can now fund your card expenses1. WTGXX investors can earn income at the current 7-day yield of 4.60%2 until their WTGXX shares are sold as spending funds, strengthening the connection between spending and yield investing.
WisdomTree Prime connects liquid on-chain investments with spending capabilities, unlocking the utility of real-world asset (RWA) tokenization in a new and unique way for eligible customers. Consumers can realize the potential returns of their cash through investing in WTGXX within WisdomTree Prime’s latest platform that integrates saving, spending and investing to give greater control and choice in their financial lives. You can.
“WisdomTree Prime’s purpose from its inception has always been to give consumers choice. In this case, by rolling out the ability to link money market digital funds to debit cards, we are giving users more control over their money. Will Peck, Head of Digital Assets at WisdomTree, said: “We all have traditional checking accounts, but they generally don’t offer any benefits. By connecting income-producing assets directly to our spending capabilities, our users have access to a funding mechanism. You can use it to fund all your daily purchases within the app, potentially earning income through your WTGXX investments every day until your investments are sold to fuel your spending.”
Additional products and features will become available within the app over time.
For more information about the WisdomTree Prime Visa® Debit Card available through WisdomTree Prime, visit winenesstreeprime.com. WisdomTree Prime is now available in the Apple App Store and Google Play in 45 US states
Source: WisdomTree
WisdomTree Prime now offers a digital money market fund feature that can be used as a funding source for Visa debit cards…
In other words, on-chain investments *with yield* can fund normal day-to-day expenses.
Another step towards a fully tokenized future. pic.twitter.com/brIxu5cieE
— Nate Geraci (@NateGeraci) October 10, 2024
BNY appointed by WisdomTree to provide ETF servicing, custody, accounting, fund management and securities lending across U.S.-listed products
Bank of New York Mellon Corporation, a global financial services company, has acquired custody, accounting, fund management, ETF servicing and securities lending across its U.S.-listed ETFs from WisdomTree, a global financial innovator. announced that it has been appointed to provide the , with total assets under management of $80.7 billion (2). BNY is also entrusted with fund accounting and management for WisdomTree’s Bitcoin ETF and series of tokenized funds.
WisdomTree is expanding its long-standing relationship with BNY as an ETF sub-adviser and distributor, supporting further growth initiatives across models, digital assets and retail distribution. By leveraging BNY’s unique role across the financial ecosystem and expertise in partnering with clients to transform their operating models, WisdomTree will also gain scale and efficiency.
“This is a great example of how BNY is bringing together solutions from across the company to build an operational and distribution support model that accelerates WisdomTree’s continued growth and innovation story and delivers value to the fund.” said Emily Portney, Global Head. Asset Services at BNY. “We are excited to deepen our relationship with WisdomTree and provide front-to-back solutions from sub-advisory to fund management, investor services, and digital asset support and distribution.”
Source: BNY
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