WisdomTree Expands Custody and Stablecoin Services
WisdomTree recently announced the expansion of its WisdomTree Prime app to users in New York, following the company’s attainment of a New York State Department of Financial Services (DFS) charter. This charter allows the asset manager to custody digital assets, offer digital wallet services, issue DFS-approved stablecoins, and manage stablecoin reserves through its new entity, WisdomTree Digital Trust Company. The increased authorities provided by the trust charter aim to enhance customer protection, particularly in terms of asset safekeeping.
Introduction of WisdomTree Prime App and Visa Debit Card in NY
The launch of the WisdomTree Prime app in New York coincides with the debut of the WisdomTree Prime Visa Debit Card, issued by Stride Bank. The Visa debit card enables users to make purchases using their available wallet balance wherever Visa is accepted, bridging the gap between personal finance and digital asset investing.
Will Peck, Head of Digital Assets at WisdomTree, expressed enthusiasm for the company’s achievements, including the launch of new digital funds, payment capabilities, and collaborations with regulatory bodies like the New York State Department of Financial Services. The company aims to empower consumers to integrate digital assets into their daily financial activities. The app is now available in New York and several other states, totaling 41 states.
Market Update on Bitcoin
At the time of writing, Bitcoin is trading at $62,300, with a recent dip to $61,000 establishing strong support. Despite price fluctuations, Bitcoin has maintained a week-over-week gain of nearly 5%.
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