TLDR
- WisdomTree has appointed BNY as its core banking-as-a-service infrastructure provider for WisdomTree Prime.
- BNY becomes the first major bank to serve as a retail digital assets BaaS client through this partnership.
- WisdomTree Prime is the first app offering U.S. retail investors access to tokenized funds with stablecoin conversion services.
- The platform supports stablecoins including USDC and PYUSD for onchain transfers.
- Users can invest in tokenized real-world assets such as digital funds and onchain gold.
WisdomTree has chosen The Bank of New York Mellon Corporation as its banking-as-a-service infrastructure provider. The partnership supports WisdomTree Prime, the company’s retail platform for tokenized assets and cryptocurrency. BNY becomes the first major bank to provide retail digital assets BaaS services through this collaboration.
WisdomTree Prime Introduces New Banking Capabilities
WisdomTree Prime now offers U.S. retail investors access to tokenized funds with stablecoin conversion services. The platform enables users to invest in tokenized real-world assets through blockchain technology. This marks the first app combining tokenized funds with stablecoin on and offramps for retail customers.
BNY provides banking functionality in conjunction with blockchain infrastructure for the platform. Users can transfer funds between traditional banking systems and the digital assets app. The service includes support for stablecoins such as USDC and PYUSD, as these features are launched.
The collaboration expands access to WisdomTree’s range of tokenized real-world assets. Crypto native users can remain onchain while accessing digital funds and onchain gold. The platform enables seamless transitions between traditional finance and blockchain-based investments.
BNY Extends Its Digital Assets Services
Jennifer Barker leads Treasury Services and Depositary Receipts at BNY as Global Head. She stated that BNY serves as the bridge supporting digital assets transformation. The bank’s infrastructure provides reliability and scale for next-generation financial services.
BNY and WisdomTree maintain a long-standing business relationship across multiple service areas. BNY serves as administrator, custodian, and sub-adviser on select WisdomTree funds. The bank also acts as a reserve custodian and banking partner for the USDW stablecoin.
The partnership extends to investment management and custody services for tokenized real-world assets. BNY provides expertise across WisdomTree’s product lineup for institutional clients. The relationship supports WisdomTree Connect for institutional users and their treasury operations.
WisdomTree Expands Digital Assets Platform
Will Peck serves as the Head of Digital Assets at WisdomTree, overseeing platform development. He highlighted that stablecoins and tokenized assets create new user experiences in financial services. BNY brings trust and reliability as a leader among banks working with stablecoin issuers.
WisdomTree Prime facilitates growth of onchain financial services for retail investors. The platform combines traditional banking infrastructure with blockchain technology for asset access. Users gain exposure to a diversified portfolio of tokenized real-world assets through a single application.
The service enables institutional users to leverage existing payment rails for investing and reserve management. WisdomTree continues developing capabilities for onchain transfers across tokenized funds. The company builds out its digital assets ecosystem through strategic banking partnerships.
Peck expressed excitement about the next chapter with BNY. The collaboration supports WisdomTree’s mission to expand onchain financial services. BNY’s banking infrastructure powers the platform’s retail and institutional offerings.
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