The crypto asset and exchange-traded fund (ETF) manager Wisdomtree has revealed the company is launching a new digital wallet called Wisdomtree Prime, which will allow users to hold crypto assets, blockchain-enabled funds, tokenized versions of commodities like gold, and access to stocks or bonds based on Wisdomtree’s indexes.
Wisdomtree to Launch Prime Wallet in Q2, 2022
On January 28, the crypto asset and fund manager Wisdomtree revealed the launch of a new product called Wisdomtree Prime. According to the announcement, written by the company’s head of digital assets Will Peck, the firm has launched a “new direct-to-retail fintech offering.” Currently, Wisdomtree Prime is allowing people to join the beta waitlist and the application will officially launch in a few select states in the U.S. in Q2 2022.
“Wisdomtree Prime is a digital wallet, made available as a mobile app, that allows users to invest, save and spend with digital assets,” Peck’s announcement explains.
Users can invest in specific crypto assets like bitcoin (BTC) and ethereum (ETH) alongside blockchain funds. Funds could include stocks or bonds based on Wisdomtree’s indexes and tokenized versions of physical assets like gold. Peck details that the company’s new direct-to-retail fintech product will eventually expand.
“We are targeting beta launch in certain states in the second quarter, and we are aiming to be rolling out nationally later this year. While starting as a retail app, over time we look forward to serving institutions and financial advisory firms,” the company’s head of digital assets said.
The digital wallet announcement follows the firm’s Wisdomtree Enhanced Commodity Strategy Fund (GCC) and its investment into the blockchain-based infrastructure provider, Securrency. Peck’s blog post details that the application aims to be a “curated experience” and in the future, a debit card will be able to be tethered to the application’s assets.
“We aren’t aiming to be an app for trading and speculation, but rather provide a core suite of savings, payments, and investments exposures and services,” Peck added. “For example, we are building features like a debit card that can be linked to certain of these assets.”
What do you think about Wisdomtree’s digital wallet announcement? Let us know what you think about this subject in the comments section below.
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