The charter will enable WisdomTree’s newly founded entity to offer crypto custody, stablecoin issuance, and stablecoin reserve management services.
Asset manager WisdomTree has been granted a charter from the New York State Department of Financial Services (DFS) to operate as a limited-purpose trust company under the New York Banking Law.
The trust company charter will enable the firm to launch its personal finance mobile app, WisdomTree Prime, under enhanced regulatory supervision in New York, the firm announced on March 22.
The new approval will enable WisdomTree plans to become a leading company in New York’s rapidly evolving digital asset space, wrote Jonathan Steinberg, the founder and CEO of WisdomTree:
