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WisdomTree has gained clearance to offer its “blockchain-enabled” financial app to New York users via a charter expected to also extend its digital assets offerings more broadly.
The New York State Department of Financial Services (DFS) cleared the fund group — managing $106 billion in assets — to operate as a limited purpose trust company under the state’s banking law, WisdomTree said Friday.
The charter allows the firm to custody digital assets, as well as issue, exchange and manage the reserves of DFS-approved stablecoins. The newly formed WisdomTree Digital Trust Company intends to issue its gold and dollar tokens and maintain reserves for those assets, the company…
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