WisdomTree Granted Trust Company Charter, Paving the Way for Digital Asset Custody and Enhanced Services

WisdomTree has obtained a charter from the New York State Department of Financial Services (DFS) to establish a trust company. The trust company will enable WisdomTree to provide fiduciary custody of digital assets, issue and redeem DFS-approved stablecoins, manage stablecoin reserves, and offer digital wallet services. This charter establishes WisdomTree as a leader in the digital asset industry and positions it to play a significant role in the ongoing shift towards blockchain-enabled financial services.

WisdomTree Granted Charter to Operate Trust Company in New York

New York, March 10, 2023 - WisdomTree, a leading provider of exchange-traded funds (ETFs) and financial technology solutions, has secured 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. This significant development positions WisdomTree at the forefront of the digital assets industry, enabling the company to provide enhanced services and products to its customers.

Trust Company Charter: A Gateway to Enhanced Services

The trust company charter authorizes WisdomTree to perform fiduciary custody of digital assets, including digital wallet services, under the newly formed entity, WisdomTree Digital Trust Company, LLC. This distinction places WisdomTree among a select group of digital asset trust companies with this charter, underscoring its leadership role in the transformation of financial services through blockchain technology.

WisdomTree Digital Assets: A Robust Ecosystem of Offerings

WisdomTree Digital Trust Company will provide a range of products to customers as part of the WisdomTree Prime ecosystem. These offerings include the WisdomTree Gold Token and the WisdomTree Dollar Token, both of which will be available on WisdomTree Prime. The company will also maintain reserves for these assets under a DFS-approved framework.

New York Retail Customers to Benefit

This charter will also allow WisdomTree to extend access to WisdomTree Prime to New York retail customers in the coming weeks. WisdomTree Prime offers a comprehensive suite of services designed to meet the evolving needs of investors in the digital assets space.

Commitment to Regulatory Compliance and Customer Protection

In granting the charter, the NYS DFS recognized WisdomTree's steadfast commitment to regulatory compliance and customer protection. As Jonathan Steinberg, WisdomTree Founder and CEO, emphasized, "This well-established trust company charter program is based on bank-grade regulation, allowing us to offer products that capitalize on innovation without sacrificing customer protection."

Will Peck, Head of Digital Assets at WisdomTree and CEO of WisdomTree Digital Trust Company LLC, echoed this sentiment, stating, "A New York limited purpose trust company provides the leading platform to offer regulated tokenized products and services to WisdomTree's retail and institutional customers."

Industry Leadership and Expansion Plans

This charter demonstrates WisdomTree's unwavering commitment to leading the evolution of the digital assets industry. The company's robust initial product offering and plans for responsible growth in New York and beyond reinforce its position as a trusted provider of innovative financial solutions.

About WisdomTree

WisdomTree is a global financial innovator and provider of ETFs and other investment products. The company is headquartered in New York and its common stock is listed on the New York Stock Exchange (symbol: WT). WisdomTree's mission is to democratize investing and provide investors with access to innovative products that meet their evolving financial needs.

Additional Information

For further information, please visit WisdomTree's website at www.wisdomtree.com or contact the company's media relations team at media@wisdomtree.com.