MoonPay Brings Tokenized Treasury Fund to its 35 Million Users
WisdomTree has collaborated with MoonPay to offer its tokenized Treasury fund, WTGXX, directly to MoonPay's network of over 35 million accounts. The $1.23 billion fund is now available on MoonPay's platform for eligible U.S. investors to buy shares, and will be used in the reserve management behind MoonPay's stablecoin business.
MoonPay built an access point for WTGXX, allowing users to purchase shares of the fund without going through a broker-dealer. This partnership routes retail distribution of a registered U.S. money market fund through a consumer crypto app, putting it inside the reserve stack of a payments company.
The arrangement has significant implications for the tokenized Treasury market, which totals $15.4 billion. MoonPay's incorporation of WTGXX into its stablecoin reserve management will give eligible investors another path to deploy their assets.