NEW YORK - WisdomTree, Inc. (NYSE:WT), a prominent financial firm, has obtained a charter to operate as a limited purpose trust company in New York, granting it the authority to engage in fiduciary custody of digital assets, issue and manage stablecoins, and provide digital wallet services.
This development positions WisdomTree as one of the few digital asset trust companies to hold such a charter, signaling its commitment to the integration of blockchain technology in financial services.
The New York State Department of Financial Services (DFS), a leading regulator for digital asset businesses, has authorized WisdomTree to offer these services under the newly established WisdomTree Digital Trust Company, LLC. According to Jonathan Steinberg, WisdomTree Founder and CEO, the charter allows them to offer innovative products with a focus on customer protection in the digital asset marketplace.
Initially, the WisdomTree Digital Trust Company will be part of the WisdomTree Prime ecosystem, issuing the WisdomTree Gold Token and WisdomTree Dollar Token, and maintaining reserves for these assets. The charter also enables WisdomTree to provide access to WisdomTree Prime for retail customers in New York, with plans to expand to institutional and business clients in the future.
Will Peck, Head of Digital Assets at WisdomTree and CEO of WisdomTree Digital Trust Company, LLC, emphasized the company's robust product offering and strategy for responsible growth. WisdomTree Prime aims to offer an integrated ecosystem for saving, spending, and investing, with enhanced protections for asset safekeeping.
The trust company's charter marks a significant milestone for WisdomTree, which manages approximately $106.2 billion in global assets and has been at the forefront of leveraging blockchain technology for financial products. This move underscores the firm's commitment to innovation and customer-centric services in the digital financial landscape.
WisdomTree Prime is currently available for download in the Apple (NASDAQ:AAPL) App Store and Google (NASDAQ:GOOGL) Play, with further information accessible on the company’s website. This news is based on a press release statement from WisdomTree, Inc.
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