WisdomTree Opens Tokenized Treasury Fund to MoonPay’s 35M Accounts

Distribution, not product, is the story here: a tokenized Treasury fund reaching a wallet-scale user base signals that the bottleneck for RWA growth is access rather than issuance. MoonPay holding the fund against its stablecoin reserves also blurs the line between payments float and yield-bearing collateral, a structure worth watching as stablecoin reserve rules tighten. The open question is whether other wallets and payment firms copy the model, which would push tokenized Treasuries further toward becoming default cash infrastructure rather than a niche product.