WisdomTree, MoonPay team up to expand US access to tokenized money market fund

WisdomTree, MoonPay team up to expand US access to tokenized money market fund

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WisdomTree and MoonPay are partnering to expand US investor access to a tokenized Treasury money market fund, which MoonPay also plans to use as part of its stablecoin reserves.

According to a Thursday announcement from the companies, the fund issuer is using MoonPay’s technology to develop an access point for its WisdomTree Treasury Money Market Digital Fund (WTGXX), a tokenized money market mutual fund that seeks to maintain a $1 share price.

The companies said the arrangement would give WisdomTree access to MoonPay’s network of more than 35 million accounts.

MoonPay, a financial technology company that provides infrastructure for moving between fiat and digital assets, plans to use WTGXX as part of its stablecoin reserve management stack.

On Thursday, the tokenized US Treasury market stood at about $15.4 billion, with WTGXX accounting for about $1.23 billion, according to RWA.xyz data.

The fund has logged net flows of $466 million in the past 30 days.

Net flows are calculated as the difference between tokens minted and tokens burned.

Dollar Yield fund (USDY) was the only other tokenized Treasurys fund that saw positive net flows, $66 million, in the period.

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