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WisdomTree Receives Crypto Custody Launch Approval In New York – Crypto News

Published

2 years ago

March 22, 2024

Dripp

WisdomTree, a prominent U.S. Spot Bitcoin ETF issuer, has captured the attention of investors following its recent approval from the New York State Department of Financial Services (NYDFS). Notably, this green light allows WisdomTree to expand its crypto services in New York, marking a significant milestone in the company’s journey into the digital asset landscape.

WisdomTree’s Crypto Custody Expansion

WisdomTree is making waves in the crypto market, with its recent NYDFS approval to expand its digital asset services in the U.S. State. Notably, this reported development was lauded by crypto market enthusiasts, especially amid the growing popularity of the cryptocurrency market.

Meanwhile, WisdomTree’s venture into the world of cryptocurrency custody has been given a boost with the granting of a trust company charter by the NYDFS, according to the report. This charter empowers WisdomTree to launch its crypto app, WisdomTree Prime, in New York, offering digital wallet services and facilitating the issuance and exchange of DFS-approved stablecoins.

Notably, Eleanor Terrett, a Fox journalist, shared the news, highlighting that WisdomTree’s charter also permits it to manage stablecoin reserves under the newly established entity, WisdomTree Digital Trust Company, LLC. This development solidifies WisdomTree’s position among the select few digital asset trust companies authorized to provide fiduciary custody of digital assets in New York, underscoring its leadership in embracing blockchain services.

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