WisdomTree and MoonPay have announced a September 17 collaboration to build another U.S. access route to the WTGXX tokenized Treasury money market fund. According to reports from CoinDesk, the partnership will enable eligible U.S. investors to access the fund through WisdomTree's regulated broker-dealer network using MoonPay's blockchain technology and distribution network. MoonPay plans to use WTGXX as part of its stablecoin reserve management under the collaboration, though no specific stablecoin has been identified for reserve holdings. The collaboration is expected to serve as the foundation for a broader strategic engagement between WisdomTree and MoonPay to support additional tokenized fund opportunities, including across global markets. As per MoonPay Institutional CEO Caroline D. Pham, "This year, we have seen rapid adoption of blockchain infrastructure and tokenization of financial assets to expand investor access. Our working relationship with WisdomTree demonstrates how financial innovation can enable better experiences for investors in U.S. regulated markets and products."
The partnership provides WisdomTree with access to MoonPay's network of more than 35 million accounts, significantly expanding the fund's potential user base beyond traditional channels served by WisdomTree Securities, Inc. According to the latest announcement, the collaboration could expand to additional tokenized funds, including in markets outside the United States, with WisdomTree managing approximately $176.7 billion in assets. MoonPay launched its enterprise stablecoin business in November 2025 and issues dollar-denominated stablecoins across several blockchains, backed by US dollars and other high-quality liquid assets held in segregated accounts. On Thursday, the tokenized US Treasury market stood at about $15.4 billion, with WTGXX accounting for approximately $1.23 billion, according to RWA.xyz data. The planned offering would supplement WisdomTree's existing direct channels through its broker-dealer, WisdomTree Securities, Inc., providing individual investors with additional access to its tokenized funds. As per MoonPay's blockchain technology, it is expected to support the planned access point, enabling WisdomTree to reach individual investors directly beyond its own direct channels via its broker-dealer.
WTGXX is an open-end money market mutual fund registered under the Investment Company Act of 1940, with an investment objective to generate current income while preserving capital and maintaining a stable $1.00 net asset value per share. As reported by CoinDesk, the fund must keep at least 99.5% of total assets in government securities, cash and fully collateralized repurchase agreements. Under normal conditions, WTGXX invests exclusively in U.S. dollar cash, short-term Treasury securities, overnight Treasury-backed repos and registered government money market funds. At June 30, the fund held 80.9% of net assets in U.S. government obligations and 19.3% in repurchase agreements, with Treasury bills accounting for 64.1%. The fund currently represents approximately $1.23 billion of the tokenized U.S. Treasury market, which is tracked at roughly $15.4 billion. The fund charges a 0.25% annual expense ratio and delivered a 3.75% fiscal-year return through June 30, compared with 3.90% for the ICE U.S. 1-Month Treasury Bill Index.
WTGXX has demonstrated strong recent performance with $466 million in net flows recorded during the previous 30 days, as reported by Coin Edition. This compares favorably to Ondo's U.S. Dollar Yield fund, which recorded $66 million in positive net flows during the same period. Despite the fund's target of maintaining a $1.00 per share value, investors still face risks including potential principal losses and blockchain-related vulnerabilities, with WTGXX seeking to preserve investment value but not guaranteeing principal preservation. The fund is distributed by WisdomTree Securities, Inc., a FINRA member, and is not FDIC-insured or guaranteed by any government agency. As per KuCoin, WTGXX seeks to preserve the value of an investment at $1.00 per share but is not a bank account and is not insured or guaranteed by the FDIC or any government agency.
The partnership addresses the GENIUS Act compliance requirements for payment stablecoin issuers, with WisdomTree changing WTGXX's name and investment policy in November 2025 specifically to make the fund eligible for stablecoin reserve use. According to CoinDesk, MoonPay holds a New York BitLicense, a New York Limited Purpose Trust Charter and money transmitter licenses, while its corporate operations span fiat payments, crypto trading, commerce and stablecoin infrastructure. The arrangement maintains regulatory compliance through WisdomTree Securities, Inc., which continues to distribute WTGXX as the regulated broker-dealer, with MoonPay not acting as a broker-dealer or investment adviser for the fund. As reported by KuCoin, WTGXX seeks to preserve the value of an investment at $1.00 per share but is not a bank account and is not insured or guaranteed by the FDIC or any government agency. The partnership also acknowledges that blockchain technology is a relatively new and untested technology, with little regulation, and potential risks include vulnerability to fraud, theft, or inaccessibility, with future regulatory developments that could affect its viability.
The collaboration represents MoonPay's second connection to a regulated tokenized money market product, following its June partnership with Franklin Templeton's BENJI fund for institutional users. According to KuCoin, the partnership is described as a foundation for broader tokenized-fund growth, with MoonPay Institutional CEO Caroline D. Pham stating the working relationship demonstrates how financial innovation can enable better experiences for investors in U.S. regulated markets. The companies have not specified additional funds, countries or launch schedules for future work, though WisdomTree describes the deal as a possible base for covering other tokenized funds and international markets. As per WisdomTree Founder and CEO Jonathan Steinberg, "Money moves differently today, and investing needs to keep pace. Stablecoins are reshaping how people and businesses both hold and move value, and working with MoonPay as an access point can give eligible U.S. investors another path to deploy their assets into WTGXX."
