Global digital asset provider WisdomTree has appointed BNY to provide it with banking-as-a-service (Baas) infrastructure for its tokenised assets and crypto business.

WisdomTree, which currently has around $139.2 billion in assets under management, is the bank’s first retail digital assets BaaS client.

WisdomTree said the move will enable it to provide US retail investors with access to tokenised funds and stablecoin.

Through the partnership, users will be able to invest in tokenised real-world assets (RWA) through WisdomTree’s platform and support onchain transfers across tokenised funds and select stablecoins, including USDC and PYUSD, as these capabilities are introduced.

With BNY already serving as administrator, custodian, and sub-adviser on select WisdomTree funds, and being reserve custodian and banking partner for its USDW stablecoin, the two firms have an existing long-term relationship.

Through the new collaboration, users now have access to BNY’s banking functionality, in addition to blockchain rails, enabling on and offramp capabilities between the traditional banking system and the app as they become available.

WisdomTree also announced plans to expand its platform, introducing new capabilities that allow crypto native users to remain onchain and access a diversified range of tokenised RWA, including digital funds and onchain gold.

“As digital assets continue to converge with traditional finance, BNY is committed to serving as the bridge that supports this transformation,” said Jennifer Barker, global head of treasury services and depositary receipts at BNY. “Our work with WisdomTree underscores how BNY’s infrastructure and demonstrated track record of reliability and scale can help power the next generation of financial services.”

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