Finance · updated 1h ago · 2 min read
WisdomTree Partners With MoonPay to Expand U.S. Access to WTGXX Tokenized Treasury Fund
WTGXX is a $1.2 billion tokenized Treasury money market fund. MoonPay will use WTGXX in its stablecoin reserves.
Whether WTGXX access is framed as buying with stablecoins.
7 of 8 outlets skipped it: WTGXX shares can be bought using stablecoins.
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Ggenfinity.io
“eligible U.S. investors will gain the ability to buy WTGXX shares using stablecoins.”Read the original ↗
Ccoinedition.com
“MoonPay plans to use WTGXX within its stablecoin reserve management strategy.”Read the original ↗
Genfinity foregrounds stablecoin-to-fund buying, while others foreground WTGXX as a stablecoin reserve asset.
WTGXX Access Expansion
WisdomTree is partnering with MoonPay to expand access in the United States to its WisdomTree Treasury Money Market Digital Fund (WTGXX), a tokenized Treasury money-market fund.
“expand access to WTGXX, a tokenized Treasury money-market fund”
The companies said WTGXX is invested in US Treasuries and similar assets and currently has about $1.2 billion in assets under management.
Cointelegraph reported on September 17 that the two companies agreed to work together to make it easier for US investors to access WTGXX by linking MoonPay’s crypto payments infrastructure with WisdomTree’s tokenized financial products.
The collaboration is framed as a way to broaden WTGXX’s user base in the US by using MoonPay’s technology and platform as an additional access point beyond WisdomTree’s broker-dealer channel, WisdomTree Securities.
Network, Flows, and Risks
MoonPay’s network is described as hosting more than 35 million accounts and serving more than 1,700 partners, and the partnership is expected to connect WisdomTree’s regulated investment products with MoonPay’s digital asset network.
Coin Edition said the collaboration could connect WisdomTree’s tokenized Treasury funds with MoonPay’s network of more than 35 million accounts, while also noting that WTGXX represented approximately $1.23 billion of the tokenized U.S. Treasury market tracked at roughly $15.4 billion Thursday.
Coin Edition also reported that WTGXX recorded $466 million in net flows during the previous 30 days, while Ondo’s U.S. Dollar Yield fund recorded $66 million in positive net flows.
Even as the deal targets a $1 share value, Coin Edition warned that investors still face risks including potential principal losses and blockchain-related vulnerabilities, and it said WTGXX seeks a $1 share value but cannot guarantee principal preservation.
Stablecoin Reserves Next
Beyond distribution, MoonPay plans to use WTGXX as part of its stablecoin reserve management strategy, with KuCoin saying the access point would use MoonPay’s blockchain technology to let WisdomTree reach individual investors beyond channels served by WisdomTree Securities, Inc., a FINRA member.
“"Working with MoonPay as an access point can give eligible U.S. investors another path to deploy their assets into WTGXX."”
KuCoin quoted WisdomTree founder and chief executive Jonathan Steinberg saying, "Working with MoonPay as an access point can give eligible U.S. investors another path to deploy their assets into WTGXX."
KuCoin also said WTGXX seeks to preserve the value of an investment at $1.00 per share but is not a bank account and is not insured or guaranteed by the FDIC or any government agency.
The partnership is described as a foundation for broader tokenized-fund growth, with KuCoin quoting MoonPay Institutional CEO Caroline D. Pham: "Our working relationship with WisdomTree demonstrates how financial innovation can enable better experiences for investors in U.S. regulated markets and products."