WisdomTree Investments, Inc., an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager, announced today its new relationship with custody technology platform Fireblocks in relation to the upcoming blockchain-native mobile app, WisdomTree Prime.
Individual digital asset wallets available to users of WisdomTree Prime will include multiple operational and security controls. As WisdomTree prepares for continual expansion of the products and services that will be available within WisdomTree Prime, the integration of Fireblocks’ Multi-Party Computation (MPC) wallet technology is expected to provide users with an additional layer of security associated with the management of their private keys for transacting in select crypto assets like bitcoin or ether and tokenized versions of physical assets like gold. Welcoming Fireblocks’ next-generation technology for WisdomTree Prime’s multi-faceted solution for securing digital assets underscores WisdomTree’s commitment to user trust and security. WisdomTree Prime plans to integrate Fireblocks with WisdomTree’s existing technology stack, including Securrency, a blockchain infrastructure technology provider.
WisdomTree is the world’s largest independent ETF sponsor, currently managing approximately $350 million in crypto assets with approximately $76 billion in global assets under management (AUM). WisdomTree Prime is a natural extension of the business. In creating this new initiative, WisdomTree is on a mission to provide a better way to save, spend, invest, transact, and deliver financial services in the most in-demand and fastest-growing finance sectors: cryptocurrencies and tokenized assets.
“As a first mover in seeking to bring passive investment strategies and other financial products and services to the blockchain, it is critical to partner with technology providers who will help WisdomTree provide a secure experience for our users,” said Will Peck, Head of Digital Assets at WisdomTree. “Fireblocks is a leader in next-generation custody technology, and we are thrilled to work with them. WisdomTree is focused on building on our heritage as a trusted asset manager to provide customers a secure and user-friendly experience when they download and use WisdomTree Prime.”
“Any business that plans to launch support for crypto or digital currencies will inevitably need a custody solutions provider that can enable secure asset storage and management,” said Michael Shaulov, CEO of Fireblocks. “For the growing crop of crypto investing apps, finding a unique advantage to compete for market share will become increasingly important. Fireblocks lets fintech apps and platforms enjoy the best of both worlds – having the most secure way to store assets in storage or transfer and gaining access to the most robust network of blockchain ecosystems. We are excited for WisdomTree Prime’s upcoming integration with Fireblocks and, together, look forward to powering the next wave of fintech products and services.”
WisdomTree Prime is targeting a small-scale beta launch in summer 2022, with the goal of utilizing this technology in its larger rollout targeted for later in the year. At launch, WisdomTree Prime is expected to feature a core suite of products and services. The launch is anticipated to mark the continual roll-out of new products and services available through WisdomTree Prime, including debit cards and other financial services offerings.
WisdomTree Investments, Inc., through its subsidiaries in the U.S. and Europe (collectively, “WisdomTree”), is an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager headquartered in New York. WisdomTree offers products covering equity, commodity, fixed income, leveraged and inverse, currency, cryptocurrency, and alternative strategies. WisdomTree currently has approximately $76.4 billion in assets under management globally.
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,200 financial institutions, has secured the transfer of over $2.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it’s the only solution that CISOs and Ops Teams both love.
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