MoonPay and WisdomTree Team Up on Tokenized Treasury Fund

WisdomTree and MoonPay have formed a partnership to expand US investor access to a tokenized Treasury money market fund. The WisdomTree Treasury Money Market Digital Fund (WTGXX) is a tokenized money market mutual fund that aims to maintain a $1 share price.

MoonPay, a financial technology company, will use its technology to develop an access point for the fund, giving WisdomTree access to MoonPay's network of over 35 million accounts. The collaboration could potentially expand to additional tokenized funds in markets outside the US, according to WisdomTree.

The WTGXX has seen significant growth, with net flows of $466 million in the past 30 days and a total market value of approximately $1.23 billion, as per RWA.xyz data. This makes it one of the largest tokenized US Treasury funds, along with the Ondo U.S. Dollar Yield fund (USDY), which saw positive net flows of $66 million in the same period.

MoonPay plans to use the WTGXX as part of its stablecoin reserve management stack. The company launched its enterprise stablecoin business in November 2022 and issues dollar-denominated stablecoins across several blockchains, backed by US dollars and other high-quality liquid assets held in segregated accounts.