{"id":172886,"date":"2024-10-10T11:06:54","date_gmt":"2024-10-10T11:06:54","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172886"},"modified":"2024-10-10T11:06:59","modified_gmt":"2024-10-10T11:06:59","slug":"wisdomtree-crypto-card-now-supports-blockchain-backed-money-market-fund-transactions","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/wisdomtree-crypto-card-now-supports-blockchain-backed-money-market-fund-transactions\/","title":{"rendered":"WisdomTree Crypto Card Now Supports Blockchain-Backed Money Market Fund Transactions"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">WisdomTree\u2019s crypto debit card now supports transactions<\/span><\/strong><span data-preserver-spaces=\"true\">, specifically the WisdomTree Government Money Market Digital Fund (WTGXX).<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Cardholders can use their tokenized assets <\/span><\/strong><span data-preserver-spaces=\"true\">for everyday purchases without converting to fiat currency, facilitated by the WisdomTree-branded Visa debit card, which links directly to the WTGXX fund.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">This innovation offers transparency, security, and a 4.6% APR yield<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">, simplifying the use of digital assets in daily life and setting a precedent for integrating blockchain technologies into traditional financial markets.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">WisdomTree has <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/ir.wisdomtree.com\/news-events\/press-releases\/detail\/706\/wisdomtree-prime-unveils-new-earn-until-you-spend\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">announced<\/span><\/a><span data-preserver-spaces=\"true\"> that its crypto <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/bitcoin-debit-cards\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">debit card<\/span><\/a><span data-preserver-spaces=\"true\"> now supports transactions directly from blockchain-backed money market funds<\/span><\/strong><span data-preserver-spaces=\"true\">. This development marks a significant step forward in <\/span><span data-preserver-spaces=\"true\">the integration of<\/span><span data-preserver-spaces=\"true\"> traditional finance with blockchain technology.<\/span><!--more--><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">WisdomTree&#8217;s New Offering<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">On October 9, 2024, <\/span><strong><span data-preserver-spaces=\"true\">WisdomTree introduced the ability<\/span><\/strong><span data-preserver-spaces=\"true\"> for holders of its crypto debit card <\/span><strong><span data-preserver-spaces=\"true\">to spend directly from their tokenized money funds<\/span><\/strong><span data-preserver-spaces=\"true\">, particularly the WisdomTree Government Money Market Digital Fund (WTGXX). <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">This fund is an on-chain tokenized asset,<\/span><\/strong><span data-preserver-spaces=\"true\"> representing a digital form of a traditional money market fund. The WTGXX primarily invests in short-term U.S. government securities, offering stability and liquidity similar to <\/span><span data-preserver-spaces=\"true\">traditional<\/span><span data-preserver-spaces=\"true\"> money market funds but with the added benefits of blockchain technology.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">How It Works<\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172887\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/WisdomTree.jpg\" alt=\"WisdomTree Crypto Card Now Supports Blockchain-Backed Money Market Fund Transactions\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/WisdomTree.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/WisdomTree-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/WisdomTree-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The integration allows cardholders to use their tokenized assets for everyday purchases<\/span><\/strong><span data-preserver-spaces=\"true\"> without the need to convert them into fiat currency first. This seamless process is facilitated through the WisdomTree-branded Visa debit card, which links directly to the WTGXX fund. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Users can fund their daily purchases within the app, with the potential to earn yield every day via their WTGXX investment until the investment is sold to facilitate spending.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Advantages for Cardholders<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This innovative approach offers <\/span><strong><span data-preserver-spaces=\"true\">several advantages<\/span><\/strong><span data-preserver-spaces=\"true\"> for cardholders. Firstly, it provides <\/span><strong><span data-preserver-spaces=\"true\">direct access to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">blockchain technology<\/span><\/a><\/strong><span data-preserver-spaces=\"true\">, allowing users to benefit from the transparency and security it offers. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Secondly, <\/span><strong><span data-preserver-spaces=\"true\">it simplifies the process of using digital assets in daily life<\/span><\/strong><span data-preserver-spaces=\"true\">, eliminating the need for intermediate steps such as converting tokens into fiat currency. Additionally, the WTGXX fund yields around 4.6% APR, providing a lucrative option for investors.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Industry Impact<\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">WisdomTree\u2019s move is seen as a significant advancement in the financial sector<\/span><\/strong><span data-preserver-spaces=\"true\">, paving the way for new opportunities for investors who wish to combine digital and fiat assets in a unique portfolio. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">By offering a tokenized money fund as a spending source for its debit card, <\/span><strong><span data-preserver-spaces=\"true\">WisdomTree is setting a precedent for integrating blockchain technologies into traditional financial markets<\/span><\/strong><span data-preserver-spaces=\"true\">. Introducing the WisdomTree crypto debit card for blockchain-backed money market fund transactions is a revolutionary step in finance. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">It not only bridges the gap between traditional and digital assets but also offers a new level of convenience and efficiency for investors. As blockchain technology continues to evolve, such innovations are likely to become more commonplace, further transforming the financial landscape.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR WisdomTree\u2019s crypto debit card now supports transactions, specifically the WisdomTree Government Money Market Digital Fund (WTGXX). Cardholders can use their tokenized assets for everyday purchases without converting to fiat currency, facilitated by the WisdomTree-branded Visa debit card, which links directly to the WTGXX fund. This innovation offers transparency, security, and a 4.6% APR yield, &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"WisdomTree Crypto Card Now Supports Blockchain-Backed Money Market Fund Transactions\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/wisdomtree-crypto-card-now-supports-blockchain-backed-money-market-fund-transactions\/#more-172886\" aria-label=\"More on WisdomTree Crypto Card Now Supports Blockchain-Backed Money Market Fund Transactions\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":172888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4620,9906,5026,4904],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172886"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172886"}],"version-history":[{"count":2,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172886\/revisions"}],"predecessor-version":[{"id":172890,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172886\/revisions\/172890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172888"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}