WisdomTree has appointed BNY as its core banking-as-a-service (BaaS) infrastructure provider for WisdomTree Prime, its retail platform for tokenised assets and cryptocurrency. The collaboration between the two firms cements WisdomTree as BNY’s first retail digital assets BaaS client. WisdomTree Prime is claimed to be the first app to provide access to tokenised funds to U.S. retail investors with stablecoin on and off-ramps via WisdomTree’s stablecoin conversion service.
WisdomTree and BNY have a longstanding relationship, with BNY serving as administrator, custodian, and sub-adviser on select WisdomTree funds, as well as the reserve custodian and banking partner for its USDW stablecoin.