WisdomTree Securities gets approval to become FINRA broker-dealer member
WisdomTree, Inc. (NYSE:WT) today announced that its wholly-owned subsidiary, WisdomTree Securities, Inc received membership approval as a broker-dealer from Financial Industry Regulatory Authority (FINRA), enabling WisdomTree Securities to facilitate transactions in blockchain-enabled funds offered in the WisdomTree Prime mobile application.
“FINRA membership approval is a key regulatory milestone, for us, leading up to the launch of WisdomTree Prime, enabling us to act as an intermediary for customers to transact in new blockchain-enabled funds,” said Jarrett Lilien, President and COO of WisdomTree.
This announcement adds to a growing list of key milestones, including the SEC declaring effective the WisdomTree Short-Term Treasury Digital Fund (WisdomTree’s first blockchain-enabled fund) and solidifying strategic partnerships with some of the industry’s most highly regarded banking, fintech and payments players.
The firm’s digital strategy is a natural extension and evolution of its ETF business, rooted in the belief that blockchain-enabled finance will improve the investor experience through enhanced liquidity, transparency and standardization.