WisdomTree launched an Ethereum-based platform for tokenized real-world assets (RWA) called WisdomTree Connect on Sept. 18.
The platform’s goal is to allow customers to interact with any WisdomTree-issued token on different blockchains.
WisdomTree Connect allows firms to access yield-generating products on-chain with blockchain-integrated recordkeeping. Firms will receive digital records of WisdomTree digital funds in their wallets. The tokens can be self-hosted or held with third-party custodial services.
Will Peck, Head of Digital Assets at WisdomTree, stated that the increasing interest in tokenized real-world assets prompted the creation of WisdomTree Connect.
He added that this opens additional business-to-business (B2B) and business-to-business-to-consumer (B2B2C) opportunities for WisdomTree to provide on-chain firms with access to digital funds without leaving the ecosystem.
The announcement explains that the platform initially supports web portal and API access, with future plans to explore decentralized application (dApp) interactions. Institutional users can purchase or redeem via US dollars or USD Coin (USDC) stablecoin.
WisdomTree Connect complements the company’s direct-to-retail app, WisdomTree Prime, offering digital asset solutions across the entire customer spectrum.
WisdomTree’s possible migration to Ethereum
According to RWA.xyz, the total market cap of tokenized US Treasuries is over $2.2 billion. WisdomTree currently offers seven different tokenized products, amounting to $12.2 million of that value. This leaves the firm out of the top 10 issuers by total tokenized.
The asset manager’s products range from short-term to long-term Treasuries, with liquidity maturing in 7 to 10 years.
Notably, six of the seven products offered by WisdomTree are issued on the Stellar blockchain, while tokens are minted by WisdomTree Connect using Ethereum.
Although the announcement reveals plans to add support for additional blockchains in the future, it doesn’t…
Click Here to Read the Full Original Article at Ethereum (ETH) News | CryptoSlate…
