WisdomTree Enables Use of Tokenized Assets for Everyday Payments

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Coinspaidmedia2024/10/10 13:27

By:Coinspaidmedia

A new feature in the WisdomTree Prime digital wallet will allow Visa debit cardholders to use tokenized real-world assets (RWA) from the WisdomTree Government Money Market Digital Fund (WTGXX) for everyday purchases.

WisdomTree Enables Use of Tokenized Assets for Everyday Payments image 0

WisdomTree, a leading provider of financial products, announced the launch of Earn-Until-You-Spend, a new feature in its crypto wallet app, WisdomTree Prime. Users will be able to use assets invested in the tokenized on-chain WTGXX fund as a means of payment.

The assets will continue to generate income until the moment they’re spent. As of October 10, the fund’s weekly yield stands at 4.6%.

Visa will act as the payment provider for the initiative. Debit cardholders will be able to link tokenized fund assets to the WisdomTree Prime app and use them to pay for goods and services. The new feature eliminates the need to convert RWAs into fiat in advance, simplifying and streamlining the process.

The WisdomTree Government Money Market Digital Fund (WTGXX) is a tokenized money market fund that invests primarily in highly liquid U.S. government securities, such as U.S. Treasury bonds, Treasury bills, Federal Reserve deposits, and other short-term government instruments. As of September 2023, the WTGXX’s assets under management (AUM) totaled ~$9.3 million, rising to $12 million in 2024.

WisdomTree is actively participating in RWA pilot tests. Earlier this year, the investment giant helped Citigroup test the tokenization of private equity funds.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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