- WisdomTree, a prominent issuer of spot Bitcoin exchange-traded funds (ETFs) in the US, has announced the expansion of its WisdomTree Prime app to users in New York.
- The company recently secured a New York State Department of Financial Services (DFS) charter, enabling it to offer a range of digital asset services.
- The launch of the WisdomTree Prime app in New York coincides with the introduction of the WisdomTree Prime Visa Debit Card, bridging personal finance and digital asset investing.
WisdomTree, a major Bitcoin ETF issuer, expands its digital asset services in New York following the acquisition of a DFS charter. The company also launches a Visa debit card, integrating digital assets into everyday finance.
WisdomTree Expands Digital Asset Services
WisdomTree’s recent acquisition of a DFS charter grants the company the status of a limited-purpose trust company under the New York Banking Law. This charter enables WisdomTree to custody digital assets, offer digital wallet services, issue and exchange DFS-approved stablecoins, and manage stablecoin reserves through its newly established entity, WisdomTree Digital Trust Company. The trust charter and added authorities provide increased customer protection, particularly regarding asset safekeeping.
Launch of WisdomTree Prime App and Visa Debit Card in New York
The WisdomTree Prime app’s launch in New York coincides with the recent introduction of the WisdomTree Prime Visa Debit Card issued by Stride Bank. This card allows users to make purchases with their available wallet balance wherever Visa is accepted, effectively integrating personal finance and digital asset investing. Will Peck, Head of Digital Assets at WisdomTree, expressed excitement about the company’s accomplishments and its aim to empower consumers in utilizing digital assets in their everyday financial lives.
WisdomTree Prime App Expansion
Since its initial entry into select states’ app stores last summer, WisdomTree Prime has gained significant momentum. It has launched new digital funds, payment capabilities, and collaborated with regulators like the New York State Department of Financial Services. The app is now live in several other states, including Connecticut, Delaware, Idaho, Louisiana, Maine, Nevada, and Ohio, bringing the total number of states in which it is available to 41.
Conclusion
WisdomTree’s expansion into New York and the launch of its Visa Debit Card marks a significant step in bridging traditional finance and digital assets. The company’s recent achievements indicate a promising future for digital asset integration into everyday finance, providing a tangible value proposition for both retail and institutional investors.
