WisdomTree Unveils Direct Spending from Tokenized Fund with Visa Card

WisdomTree has unveiled a feature enabling users of its Visa debit card to make purchases directly from its tokenized money market fund, the WisdomTree Government Money Market Digital Fund (WTGXX).

This integration allows users to not only spend their funds but also earn interest on their investments until the money is needed for transactions.

As of October 9, the WTGXX fund, which invests in U.S. Treasury bills and other liquid assets, offers a yield of approximately 4.6% and manages around $12 million in assets.

The asset manager oversees a variety of tokenized funds, including significant offerings like the BlackRock USD Institutional Digital Liquidity Fund and the Franklin OnChain US Government Money Fund, which hold assets totaling $520 million and $440 million, respectively.

Recently, WisdomTree launched its RWA platform, called WisdomTree Connect, designed to facilitate access to regulated fund tokens across different wallets and blockchain networks.

Initially, the platform will partner with third-party custodians to manage users’ tokenized funds, providing a digital ownership record in their wallets. The firm aims to extend access to its RWAs to retail users and various applications in the future, with RWAs currently valued at nearly $13 billion in total.