Q2 2026: Building the Infrastructure to Scale

The tokenized real-world asset market has moved past the proof-of-concept stage. Institutional participants are allocating. Regulatory frameworks are forming. The infrastructure layer of onchain finance is being built in earnest, and the competition is now about who builds it well.

At WisdomTree Digital Assets, Q2 was a quarter of focused execution on two fronts: expanding how retail investors access and use WisdomTree Prime and extending the institutional infrastructure of WisdomTree Connect so that partners, developers, and allocators can build with confidence. A regulated asset manager opening its infrastructure to outside builders is not the default in this industry; this quarter, much of what we released was about doing exactly that. Here is what shipped:

WisdomTree Prime

Referral Program & Rewards System

WisdomTree Prime now includes a referral program: existing users can share a unique code from the Rewards tab, and when a referred friend opens an account and funds at least $250 in a single transfer, both sides receive $50 in bitcoin.

But the more important story is what's underneath it. We rebuilt the rewards system itself. Previously, the platform could only support a single offer at a time, and that offer was reserved for first-time users. The new architecture is code-based and far more flexible — it can run multiple offers simultaneously and reward users for a range of actions, not just signing up.

The referral program is simply the first thing we've built on top of it. It's also the first time existing users — not just new ones — can earn rewards. From here, the same foundation can support a broader questing system: rewarding the actions that make onchain finance more useful and more habitual, whatever those turn out to be.

Regulated, onchain finance grows when people trust it enough to participate actively. A rewards system that can recognize more than one kind of action is how you encourage that.

Updated Stablecoin Flow

WisdomTree Prime updated how stablecoins move in and out of the app. The revised experience reduces the steps and time required to send and receive onchain funds, with support for USDC and PYUSD across supported blockchains.

Stablecoins are the connective tissue between traditional finance and onchain investing. When that connection operates quickly, the barrier to participation drops.

Fund Your Account with Cash App and Venmo

WisdomTree Prime now accepts funding from Cash App and Venmo. Cash App rolled out fee-free USDC transfers for its roughly 60 million users across Solana and Ethereum, enabling users to send USDC directly to a WisdomTree Prime wallet in supported states. Venmo, through PayPal's PYUSD, offers a similar path for moving Venmo balances onchain.

Because WisdomTree Prime accepts both USDC and PYUSD, users can fund their accounts from apps they already use and put that cash to work in WisdomTree's digital funds. This is what mainstream fintech and onchain investing converging looks like in practice. Check which stablecoins are supported in your jurisdiction in the WisdomTree Prime App.

WisdomTree Connect

Marketnode: Institutional Distribution in APAC

Marketnode was appointed as an authorized distributor of WisdomTree's digital funds to institutional investors in Singapore. This is the first time WisdomTree's tokenized real-world asset funds are available in the APAC region. For institutional investors in Asia, it opens access through a market infrastructure partner built specifically for digital assets.

Tokenized finance is a global story. This relationship reflects the pace at which institutional demand is forming outside the U.S.

Stable Sea: WTGXX Inside a Business Treasury Platform

WisdomTree announced a strategic relationship with Stable Sea, a treasury management platform for modern businesses, to embed access to WisdomTree's Treasury Money Market Digital Fund (WTGXX) directly inside the Stable Sea Terminal. Eligible users can establish a relationship with WisdomTree Securities and route orders into select WisdomTree tokenized funds from within the Stable Sea interface, including automated rules that sweep idle balances into the fund and back out when liquidity is needed.

This is the first time WTGXX has been embedded directly into a third-party payments and treasury platform. What makes that matter is who's on the other side of it. The businesses managing cash through Stable Sea are largely traditional operating companies — handling payroll, vendor payments, and working capital — not crypto-native firms. Historically, their access to products like money market funds was limited not by demand but by operational friction, high minimums, and structural barriers. Embedding WTGXX into a workflow they already use removes that friction.

U.S. businesses collectively hold more than $5 trillion in cash at low or no yield. Treasury management has been a primary driver of WTGXX adoption, and this integration extends that reach into the everyday operating cash of businesses that traditional distribution rarely reached.

Lotus: A Regulated Money Market Fund Inside DeFi Lending

Pre-launch lending protocol Lotus selected WTGXX as part of the reserve framework backing LotusUSD, its core vault token. The structure is one of the first instances of a regulated money market fund being referenced within a DeFi lending protocol. By including WTGXX in the reserves, LotusUSD can earn a baseline return during periods of low borrowing demand, so lenders earn even at zero utilization.

The value comes from a structural problem Lotus is solving. In standard DeFi lending, a lender's return tracks borrowing demand directly: when utilization is low, yield falls toward zero. By including WTGXX in the reserves backing LotusUSD, Lotus builds in a baseline return — lenders earn the underlying Treasury yield even when no one is borrowing. Lotus calls this "productive debt": idle capital stays productive instead of sitting unused, and the protocol prices the credit spread on top of that floor rather than from zero.

WTGXX is the first and only tokenized money market fund approved by the SEC for 24/7 trading and instant settlement. That operational profile makes it a practical fit for protocols that require around-the-clock liquidity.

Payroll Pilot with Plume and Toku Continues

The payroll pilot with Plume and Toku continues this quarter. Plume is a blockchain built for real-world assets; Toku provides the onchain payroll infrastructure that connects to existing payroll systems. Together with WisdomTree, they let Plume employees elect to receive a portion of their salary in WTGXX rather than entirely in cash. Plume purchases the corresponding fund shares through WisdomTree Connect and delivers them to verified wallets linked to employees' WisdomTree Prime accounts, with participation voluntary and kept separate from how salaries are calculated and paid.

Payroll is one of the most universal financial rails there is, but it has stayed purely transactional: money arrives as cash, and whatever comes next — saving, investing — is left for the employee to do later. "Later" is where inertia takes over and the cash sits idle. Delivering part of a paycheck as a yield-bearing position means the money is working from the moment it lands, with no separate investment step, no exchange, and no manual move onchain.

The pilot demonstrates that tokenized assets can integrate with the most familiar financial workflows people have, narrowing the operational gap between traditional payroll and onchain investing.

Developer Infrastructure

Commission-Free 24/7 Liquidity for WTGXX

WisdomTree reduced secondary market redemption commissions for WTGXX to zero basis points, allowing investors to access 24/7 liquidity through WisdomTree Connect's Instant Liquidity service without transaction commissions. An investor can hold a yield-bearing Treasury fund position through the week and move into digital-dollar liquidity on a Friday evening or over a weekend without paying to do so. This reinforces what WTGXX is designed to be: an always-on cash management instrument.

WisdomTree Developer Documentation

Production-ready API documentation is now live. Together with the sandbox, the documentation gives protocols, broker-dealers, and wealth and technology platforms what they need to move from API reference to live onchain workflows. A platform serious about institutional adoption makes it easy to build on.

Responsible DeFi

WisdomTree published new thinking this quarter on what durable onchain infrastructure actually requires. The core argument: as tokenized assets move deeper into DeFi, participation and endorsements are not the same thing. Making regulated funds available onchain doesn’t mean every protocol, vault or leverage structure built around it inherits the same controls, and responsible participation means being clear about that line while continuously monitoring how the assets are used. It’s the same discipline serious institutions have always brought to new markets: clear structure, controlled issuance, permissioned access and the ability to act when conditions change.

Looking Ahead

The work ahead extends what Q2 started. Both sides of the business, retail and institutional, are moving in the same direction: regulated financial assets that function with the speed and availability that markets require.

The through-line is access. On the retail side, that means meeting people where they already are, in the apps they already use, the dollars they already hold, and rewards systems that can recognize multiple kinds of actions. On the institutional side, it means opening infrastructure that has historically been closed: a sandbox that anyone can build in, documentation that stands on its own, and liquidity without a toll.

A regulated institution making its rails this open is uncommon. We think it’s what durable onchain finance will be built on, and it’s where we intend to keep building.