WisdomTree is launching a new digital wallet designed to hold digital assets. Unveiled during the company’s quarterly earnings call on Friday, WisdomTree Prime is a blockchain-native financial services mobile app that will allow users to invest, save, and spend with digital assets. This includes certain crypto assets like bitcoin or ether, blockchain-enabled funds (which may include stocks or bonds based on WisdomTree’s indexes), and tokenized versions of physical assets like gold, all in the same place that users can use to send instant payments, make transactions, and more.
“WisdomTree Prime is being built for saving, spending, and investing – in both native crypto assets or in tokenized versions of mainstream financial assets and blockchain enabled funds – where we expect WisdomTree will be a product leader,” said WisdomTree CEO Jonathan Steinberg. “We are playing for a much larger role in the future of financial services and expect these digital assets initiatives to generate new revenue streams that can scale quickly and accelerate sustainable growth in the long-run.”
In a blog post outlining the app’s goals and functionality, Will Peck, WisdomTree’s head of digital assets describes Prime as “a curated experience,” adding: “we aren’t aiming to be an app for trading and speculation, but rather provide a core suite of savings, payments and investments exposures and services. For example, we are building features like a debit card that can be linked to certain of these assets.”
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WisdomTree is targeting a beta launch of Prime in the second quarter, with the goal of a national rollout later in the year. The waitlist for beta testing is now open.
The launch of Prime follows a series of other digital asset initiatives from the firm, including the WisdomTree Enhanced Commodity Strategy Fund (GCC) becoming the first ETF to provide exposure to bitcoin futures, WisdomTree’s second investment in blockchain-based infrastructure provider Securrency Inc., and the launch of new crypto indexes.
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