WisdomTree's $1.23B WTGXX enters MoonPay, stablecoin reserves

WTGXX, WisdomTree's $1.23 billion tokenized U.S. Treasury money market fund, will be sold through MoonPay to U.S. investors and used inside MoonPay's stablecoin reserves, the two firms said in a release. The release did not give a launch date, name which MoonPay stablecoin products the fund would back, or say what share of reserves it would hold.

WTGXX sat fifth among tokenized U.S. Treasury products as of Friday, per rwa.xyz, behind Securitize and Ondo at $2.7 billion each, Circle at $2.6 billion and Franklin Templeton at $2.5 billion. The fund is the largest of WisdomTree's seven tokenized funds, against a $15.40 billion tokenized U.S. Treasury market overall.

The distribution rail

MoonPay puts its network at more than 35 million accounts and more than 1,700 enterprise partners. The access point sits inside MoonPay's institutional arm, built in April when the firm folded MPC custody company Sodot into a new platform. That arm is led by Caroline D. Pham, characterised in the release as chief executive of MoonPay Institutional; Pham was acting chairman of the U.S. Commodity Futures Trading Commission before joining MoonPay. She said the work "demonstrates how financial innovation can enable better experiences for investors in U.S. regulated markets and products."

Reserve mechanics

The deal moves cash backing MoonPay's stablecoin reserves into a fund whose shares are recorded onchain, rather than only into bank deposits and bills held at a custodian. WisdomTree founder and CEO Jonathan Steinberg cast the arrangement as placing a tokenized Treasury product inside a stablecoin distribution flow, adding that "money moves differently today, and investing needs to keep pace." The firms did not disclose what share of reserves WTGXX would hold, or which MoonPay stablecoin products it would back.

Where WTGXX sits

WTGXX invests in U.S. Treasury obligations and money market securities and seeks current income consistent with preservation of capital and liquidity, per its WisdomTree Connect page. The fund is sold today through WisdomTree Connect and direct broker-dealer channels. WisdomTree extended its tokenized funds to Solana in January; in April, DeFi lender Lotus took a WisdomTree money market fund into the reserves backing lotusUSD, and Stable Sea parked WisdomTree tokenized Treasury yield behind business operating cash. In June, MoonPay already wired Franklin Templeton's BENJI tokenized U.S. government money market fund into MoonPay Trade for stablecoin-to-fund swaps.

What is not yet known

Neither firm gave a launch date for the MoonPay access point, the share of reserves WTGXX would hold, or which MoonPay stablecoin products the fund would sit behind. WTGXX at $1.23 billion is the fifth-largest tokenized U.S. Treasury product, per rwa.xyz; A larger AUM or a named stablecoin would tell readers whether the reserve role is symbolic or scale-relevant.