WisdomTree announces New York DFS grants charter

WisdomTree announced that it has been granted a charter from the New York State Department of Financial Services, or DFS, to operate as a limited purpose trust company under the New York Banking Law. The trust company charter provides the most distinguished authorization in the digital assets landscape to serve customers under enhanced regulatory supervision and marks the ability to launch WisdomTree Prime in New York. The trust company charter authorizes WisdomTree to perform fiduciary custody of digital assets, including digital wallet services, to issue and exchange DFS-approved stablecoins and manage stablecoin reserves under the newly formed entity, WisdomTree Digital Trust Company. WisdomTree joins only a few other digital asset trust companies with this charter, demonstrating its position at the helm of the industry’s shift to blockchain-enabled financial services.