WisdomTree and MoonPay have entered a partnership to expand US investor access to a tokenized Treasury money market fund, which MoonPay also plans to use as part of its stablecoin reserves. The arrangement shows tokenized Treasury products operating on both sides of the stablecoin market: as an investable product distributed to users and as a component of stablecoin reserve management.

According to a Thursday announcement from the companies, the fund issuer is using MoonPay's technology to develop an access point for its WisdomTree Treasury Money Market Digital Fund (WTGXX), a tokenized money market mutual fund that seeks to maintain a $1 share price. The companies said the arrangement will give WisdomTree access to MoonPay's network of more than 35 million accounts.

MoonPay, a financial technology company that provides infrastructure for moving between fiat and digital assets, plans to use WTGXX as part of its stablecoin reserve management stack. The company launched its enterprise stablecoin business in November 2025 and issues dollar-denominated stablecoins across several blockchains, backed by US dollars and other high-quality liquid assets held in segregated accounts. Placing a tokenized money market fund — whose underlying portfolio holds short-term US government debt — into that stack links the tokenized Treasury sector directly to consumer-facing payments infrastructure.

The collaboration could extend to additional tokenized funds, including in markets outside the United States, according to WisdomTree, which manages about $176.7 billion in assets.

On Thursday, the tokenized US Treasury market stood at about $15.4 billion, with WTGXX accounting for roughly $1.23 billion, according to RWA.xyz data. The fund logged net flows of $466 million over the past 30 days, with net flows calculated as the difference between tokens minted and tokens burned. The Ondo U.S. Dollar Yield fund (USDY) was the only other tokenized Treasurys fund to record positive net flows in the period, at $66 million.

Tokenized Treasury funds represent shares of money market portfolios holding short-term US government debt issued on public blockchains, an area that has drawn growing participation from established asset managers. WTGXX is WisdomTree's tokenized money market digital fund, and the partnership with MoonPay is intended to broaden the distribution channels through which US investors can reach the product. The next markers for the partnership will be the launch of the access point built on MoonPay's technology and whether the collaboration extends to additional tokenized funds, including in non-US markets, as WisdomTree has indicated.