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News

WisdomTree Crypto Services Now Approved to Operate In New York

March 22, 2024 - Around 2 mins mins to read

Key Points:

  • WisdomTree gains NYDFS approval for its cryptocurrency app, WisdomTree Prime, in New York.
  • This initially enables the issuance of WisdomTree crypto services for retail customers.
Asset management firm WisdomTree has secured a significant milestone in its foray into the digital asset landscape with the receipt of a trust company license from the New York State Department of Financial Services (NYDFS).
WisdomTree Crypto Services Now Approved to Operate In New York

WisdomTree Crypto Services Now Licensed in New York

This approval paves the way for the launch of its cryptocurrency application, WisdomTree Prime, in New York. Under the newly established WisdomTree Digital Trust Company, the company is authorized by the NYDFS to offer innovative WisdomTree crypto services.

This includes issuing WisdomTree Gold Tokens and WisdomTree Dollar Tokens within the WisdomTree Prime ecosystem, along with maintaining reserves for these assets. Moreover, retail customers in New York will initially gain access to WisdomTree crypto services, with plans for expansion to institutional and enterprise clients in the future.

Jonathan Steinberg, founder and CEO of WisdomTree, expressed the importance of the charter in providing protection for customers in the digital asset market while offering cutting-edge products. Will Peck, Chief Digital Asset Officer at WisdomTree and CEO of WisdomTree Digital Trust Company, LLC, emphasized the company’s commitment to responsible growth and robust product offerings within the digital finance sector.

WisdomTree’s Expansion Signals Commitment to Digital Finance Innovation

This development underscores WisdomTree‘s dedication to innovation, leveraging blockchain technology, and delivering customer-centric solutions. With approximately $106.2 billion in global assets under management, WisdomTree’s entry into the cryptocurrency market marks a significant expansion of its crypto services.

WisdomTree Prime, the newly authorized app, is now available for download on major platforms, including the Apple App Store and Google Play, offering a comprehensive ecosystem for saving, spending, and investing in digital assets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin ETF

new york

NYDFS

WisdomTree

WisdomTree Prime

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.