WisdomTree, a key issuer of spot Bitcoin exchange-traded funds (ETFs) in the US, has unveiled the expansion of its WisdomTree Prime app to users in New York.

Enhanced Services and Approvals

Following the recent approval of a New York State Department of Financial Services (DFS) charter, WisdomTree can now operate as a limited-purpose trust company under the New York Banking Law. This allows the company to offer custody services for digital assets, issue DFS-approved stablecoins, manage stablecoin reserves, and provide digital wallet services through WisdomTree Digital Trust Company.

The trust charter and extended authorities support enhanced customer protection, particularly in asset security.

Debut of WisdomTree Prime App and Visa Debit Card in New York

The launch of the WisdomTree Prime app in New York coincides with the introduction of the WisdomTree Prime Visa Debit Card by Stride Bank. The card enables users to make purchases using their wallet balance wherever Visa is accepted, merging personal finance with digital asset investment.

Will Peck, Head of Digital Assets at WisdomTree, expressed enthusiasm for the company’s recent milestones and its commitment to empowering consumers in using digital assets in their financial lives.

WisdomTree Prime is now available in multiple states, including New York, Connecticut, Delaware, Idaho, Louisiana, Maine, Nevada, and Ohio, expanding its reach to 41 states.

At the moment, the leading cryptocurrency is trading at $62,300, having recently dipped to $61,000, establishing a crucial support level. Despite fluctuations, Bitcoin has maintained a week-over-week gain of nearly 5%.

Featured image from Shutterstock, chart from TradingView.com