Traditional finance and blockchain are converging faster than ever as leading institutions embrace tokenized real-world assets, setting the stage for a massive transformation in digital finance and opening new frontiers for seamless on-chain investing.
WisdomTree and BNY Mellon enter into next-generation blockchain banking partnership
The convergence of traditional banking and blockchain technology continues to accelerate as major financial institutions expand access to tokenized real-world assets. WisdomTree, Inc. (NYSE:WT) announced on October 28 that it has selected Bank of New York Mellon Corporation (NYSE:BK) as the core banking-as-a-service (BaaS) infrastructure provider for its digital asset platform, WisdomTree Prime. The partnership establishes WisdomTree as BNY's first retail digital asset BaaS client and highlights the growing institutional integration of blockchain-based products within the regulated financial system.
“This latest expansion of the WisdomTree Prime platform introduces new features that allow crypto-native users to stay on-chain and seamlessly access WisdomTree’s diverse tokenized RWAs, including digital funds and on-chain gold,” the announcement said, adding:
Our collaboration with BNY will allow users to access BNY's core banking features in addition to blockchain rails, enabling on- and off-ramp functionality between traditional banking systems and when the app becomes available.
Jennifer Barker, Global Head of Financial Services and Depositary Receipts at BNY, said: “As digital assets continue to converge with traditional finance, BNY is committed to serving as a bridge to support this transformation. Our work with WisdomTree highlights how BNY's infrastructure and proven track record of reliability and scale will help power the next generation of financial services.”
The expanded partnership strengthens WisdomTree's ability to provide tokenized funds, stablecoin conversion, and blockchain-based transfers between USDC, PYUSD, and other digital instruments. This builds on the long-standing relationship between the two companies, with BNY already serving as custodian and sub-adviser for certain WisdomTree funds, as well as reserve custodian for the USDW stablecoin. This partnership demonstrates growing confidence among regulated institutions in the viability of tokenized assets and stablecoins as essential tools for modern financial infrastructure.
FAQ ⏰
- What is the significance of the partnership between WisdomTree and BNY Mellon?
This partnership marks a pivotal moment in fusing blockchain innovation with traditional banking infrastructure to expand access to tokenized assets for retail users. - What impact will this collaboration have on the tokenized asset market?
This increases trust and scalability for institutions, paving the way for mainstream adoption of tokenized funds and blockchain-based transactions. - What new features does Wisdomtree Prime introduce?
The platform enables seamless on-chain access to tokenized real-world assets, stablecoin conversions, and blockchain transfers between assets. - Why is BNY Mellon's involvement important for digital finance?
As a global banking industry leader, BNY provides trusted infrastructure that bridges traditional finance and blockchain innovation, ensuring reliability and compliance.
