Summary
- WisdomTree was reported to have announced a multi-chain strategy to issue all of its tokenized funds on Solana.
- The move means institutional clients can directly issue and manage tokenized fund positions on the Solana blockchain.
- Retail clients of WisdomTree Prime can purchase tokenized funds via Circle (USDC) without using the traditional banking system.
U.S. asset manager WisdomTree will issue tokenized funds on Solana (SOL).
According to overseas media outlets including CoinDesk on the 28th (local time), WisdomTree announced that it would issue all of its tokenized funds on Solana. CoinDesk reported that “the move is part of WisdomTree’s multi-chain strategy,” adding that it is “part of a broader shift in which asset managers are moving traditional finance (TradFi) products on-chain in line with rising demand for tokenized money market funds (MMFs), among others.”
As a result, WisdomTree’s institutional clients will be able to issue and manage tokenized fund positions directly on the Solana blockchain. Retail clients using WisdomTree Prime will be able to purchase tokenized funds via Circle (USDC) without going through the traditional banking system. CoinDesk said that “traditional asset managers believe blockchain infrastructure can shorten settlement times and improve access, potentially becoming a new distribution channel for regulated financial products.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
