New York-based asset manager WisdomTree is developing a crypto app for retail investors.
The company is gearing up for the launch of a digital finance app that will allow its customers to trade crypto and other financial products.
The move will expand the company’s footprint by focusing more on retail traders. WisdomTree remains one of the traditional financial firms making moves to take a more active role in the crypto industry.
WisdomTree’s head of digital assets, Will Peck, stated that he wants the app to provide a “savings, payouts and investment package” while avoiding bad “trade and speculation”.
WisdomTree’s crypto service will be “blockchain native” unlike Robinhood. Peck stated that eliminating middlemen has led the company to a blockchain-based approach.
According to WisdomTree’s statement, the company managed $406 million in crypto assets in the fourth quarter. This means a five-fold increase compared to the fourth quarter of the previous year.
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