WisdomTree Links Money Fund to Debit
A press release titled, "WisdomTree Prime Unveils New Earn-Until-You-Spend Functionality with Money Market Fund," tells us, "WisdomTree, Inc. (WT), a global financial innovator, ... announced the ability for users to select the WisdomTree Government Money Market Digital Fund (WTGXX) as a spending source for their WisdomTree Prime Visa Debit Card. While, traditionally, a low to no yield checking account is used to fund debit card spend, WisdomTree Prime users can now tap their yield bearing money market fund balances to fund debit card spending. WTGXX investors can earn income, with a current 7-day yield of 4.60% until the WTGXX shares are sold to fund spending, strengthening the connection between spending and yield-bearing investments." It explains, "WisdomTree Prime connects a liquid on-chain investment to spending capabilities, which unlocks utility of real world asset (RWA) tokenization in a new, unique way for eligible customers. Consumers can get the potential benefits of their own cash via an investment in WTGXX, all within WisdomTree Prime's modern platform that integrates saving, spending and investing to offer greater control and choice in their financial lives." Will Peck, Head of Digital Assets at WisdomTree, comments, "The purpose of WisdomTree Prime from its genesis has always been to empower consumers with choice. In this case, rolling out the capability to link our money market Digital Fund to our debit card gives users choice in how they put their money to work. We all have a traditional checking account that generally isn't doing us any favors. By connecting a yield-earning asset directly to our spending functionality, users can fund their daily purchases all within the app with the funding mechanism potentially earning yield every single day via a WTGXX investment until the investment is sold to facilitate spending." The release adds, "Additional products and capabilities are scheduled to become available within the app on a rolling basis. For more information on the WisdomTree Prime Visa Debit Card available through WisdomTree Prime, please visit wisdomtreeprime.com. WisdomTree Prime is currently available in the Apple App Store and Google Play across 45 states in the U.S." For more, see these Crane Data News stories: "WisdomTree Connect Launched" (9/24/24) and "WisdomTree Launches Digital Govt MMF; Tradias Tokenizes First Euro MF" (2/26/24).
