WisdomTree Opens Tokenized Treasury Fund To MoonPay's 35 Million Accounts
WisdomTree and payments firm MoonPay agreed to let U.S. investors buy shares of WisdomTree's tokenized government money market fund WTGXX through MoonPay's platform, and MoonPay will place the fund into the reserve management for its stablecoin business. WTGXX held $1.23 billion on Friday, making it the fifth-largest product in a $15.4 billion tokenized Treasury market.
Why It Matters
The deal routes retail distribution of a registered U.S. money market fund through a consumer crypto app rather than traditional broker-dealers and marks a material example of a payments company using a tokenized fund within its stablecoin reserve stack. That combination links regulated money market products directly to crypto-native distribution and reserve operations.
Key Facts
- Fund: WisdomTree Treasury Money Market Digital Fund (WTGXX)
- WTGXX assets: $1.23 billion (as of Friday)
- Tokenized Treasury market size: $15.4 billion
- WTGXX rank: Fifth-largest tokenized Treasury product
- WisdomTree tokenized funds total: $1.2 billion
WisdomTree and MoonPay said they will create an access point inside MoonPay's platform that allows eligible U.S. investors to buy shares of WisdomTree's tokenized government money market fund, WTGXX. In addition to retail distribution, MoonPay will incorporate WTGXX into the reserve management behind its stablecoin operations. The firms did not provide a launch date or disclose what portion of MoonPay's reserves the fund will represent, nor which specific stablecoin products it would back.
WTGXX held $1.23 billion on Friday, making it the largest of WisdomTree's seven tokenized funds and the fifth-largest product within the $15.4 billion tokenized Treasury market, according to rwa.xyz. WisdomTree's tokenized funds total $1.2 billion overall. In the broader tokenized Treasury universe, Securitize and Ondo each held about $2.7 billion, Circle held $2.6 billion, and Franklin Templeton held $2.5 billion, per the same data.
MoonPay describes its network as having more than 35 million accounts and over 1,700 enterprise partners. The firm has prior experience integrating tokenized money funds into its products: in June it wired Franklin Templeton's BENJI, a tokenized U.S. government money market fund, into MoonPay Trade for stablecoin-to-fund swaps aimed at institutional users. In April MoonPay combined the custody firm Sodot into a new institutional platform that now supports these operations.
WisdomTree currently distributes WTGXX through its WisdomTree Connect platform and through traditional broker-dealer channels. The fund invests in U.S. Treasury obligations and money market securities with an objective of current income while preserving capital and liquidity; its WisdomTree Connect page lists the fund as new and contains no performance history. WisdomTree founder and CEO Jonathan Steinberg and MoonPay Institutional CEO Caroline D. Pham commented on the partnership in the firms' release, characterizing it as expanding investor access and financial innovation; Pham previously served as acting chairman of the Commodity Futures Trading Commission.
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Original source: The Defiant