WisdomTree Does Deal with MoonPay
A press release, "WisdomTree and MoonPay Collaborate to Expand U.S. Access to Tokenized Funds and to Support Stablecoin Reserves," tells us, "WisdomTree (WT) ... and MoonPay ... have announced a strategic collaboration to make the WisdomTree Treasury Money Market Digital Fund (WTGXX), a tokenized money market mutual fund, more accessible to everyday investors in the U.S. via MoonPay. As part of this initiative, MoonPay plans to use WTGXX as part of its stablecoin reserve management, and WisdomTree is building an access point for its tokenized funds that leverages MoonPay's technology and platform." Jonathan Steinberg, Founder and CEO of WisdomTree, comments, "Money moves differently today, and investing needs to keep pace. Stablecoins are reshaping how people and businesses both hold and move value, and working with MoonPay as an access point can give eligible U.S. investors another path to deploy their assets into WTGXX. For us, progress means creating more natural, intuitive ways to put capital to work, and making tokenized funds a practical part of an investor’s portfolio management is how we get there." The release says, "MoonPay's blockchain technology is expected to support the planned access point, enabling WisdomTree to reach individual investors directly beyond its own direct channels via its broker-dealer, WisdomTree Securities, Inc., and into MoonPay's network, which hosts over 35 million accounts and serves more than 1,700 partners." Moonpay Institutional's Caroline Pham adds, "This year, we have seen rapid adoption of blockchain infrastructure and tokenization of financial assets to expand investor access. Our working relationship with WisdomTree demonstrates how financial innovation can enable better experiences for investors in U.S. regulated markets and products." See also, "Allfunds and HSBC collaborate to launch same-day settlement capability for Hong Kong money market funds." It says, "Allfunds, a leading global wealth management platform, today announces a strategic collaboration with HSBC to deliver enhanced same-day (T+0) settlement capabilities for Hong Kong money market funds."
