Franklin

United

BlackRock

WisdomTree is letting debit card holders spend directly from its tokenized onchain money fund, according to an Oct. 9 announcement.&nbsp;
The asset manager has added WisdomTree Government Money Market Digital Fund (WTGXX) to the list of possible spending sources for its WisdomTree-branded Visa debit card, it <a data-ct-non-breakable="null" href="https://www.businesswire.com/news/home/20241009422564/en/WisdomTree-Prime%C2%AE-Unveils-New-Earn-Until-You-Spend-Functionality-with-Money-Market-Fund" rel="null" target="null" text="null" title="null">said</a>.&nbsp;
“By connecting a yield-earning asset directly to our spending functionality, users can fund their daily purchases all within the app with the funding mechanism potentially earning yield every single day via a WTGXX investment until the investment is sold to facilitate spending,” Will Peck, WisdomTree’s head of digital assets, said in a statement.
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 <img alt="Visa, BlackRock, RWA, RWA Tokenization" src="https://s3.cointelegraph.com/uploads/2024-10/01927297-9a1b-7370-bf7d-70ea56aba48a" title="">
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 WTGXX holdings. Source: WisdomTree
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/wisdom-tree-aims-bring-self-custody-regulated-rwas" rel="" target="_self" text="null" title="https://cointelegraph.com/news/wisdom-tree-aims-bring-self-custody-regulated-rwas">WisdomTree aims to bring self-custody to regulated RWAs</a>
WTGXX is a tokenized real-world asset (RWA) fund comprising United States Treasury bills and other highly liquid assets. It yields around 4.6% as of Oct. 9, WisdomTree said.
The fund currently has approximately $12 million in assets under management (AUM), according to WisdomTree’s website.&nbsp;
WisdomTree operates more than a dozen tokenized investment funds, with holdings ranging from money market instruments to S&amp;P 500 stocks, to US treasury bonds of various durations.&nbsp;
The largest by assets under management (AUM) are <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrocks-buidl-becomes-worlds-largest-tokenized-treasury-fund" rel="" target="_self" text="null" title="https://cointelegraph.com/news/blackrocks-buidl-becomes-worlds-largest-tokenized-treasury-fund">BlackRock USD Institutional Digital Liquidity Fund</a> (BUIDL) and Franklin OnChain US Government Money Fund (FOBXX), with AUM of approximately $520 million and $440 million, respectively.
In September, WisdomTree launched an RWA platform designed to let users access the asset manager’s regulated fund tokens from <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/wisdom-tree-aims-bring-self-custody-regulated-rwas" rel="" target="_self" text="null" title="https://cointelegraph.com/news/wisdom-tree-aims-bring-self-custody-regulated-rwas">any type of wallet or blockchain network</a>.
The platform, dubbed WisdomTree Connect, will initially custody users’ tokenized investment funds with third-party custodians while sending a “digital record” of ownership to the user’s personal wallet, WisdomTree said.
Eventually, WisdomTree aims to expand access to its RWAs “to other customer-facing platforms and apps […] and retail users with self-hosted wallets,” it said.&nbsp;
RWAs — including tokenized claims on financial assets, commodities, or art — already command nearly $13 billion in total value locked (TVL), according to RWA.xyz.&nbsp;
They represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/institutional-grade-stablecoins-may-killer-app-crypto" rel="" target="_self" text="null" title="https://cointelegraph.com/news/institutional-grade-stablecoins-may-killer-app-crypto">told Cointelegraph in August</a>.
Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-printing-tokens-bots-subsidies/" rel="null" target="null" text="null" title="null">What Solana’s critics get right… and what they get wrong</a>

Wisdomtree debuts debit card spending for onchain money fund

Cointelegraph

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