WisdomTree, the global asset manager behind the BTCW spot bitcoin exchange-traded fund, has been granted a charter from the New York State Department of Financial Services to offer crypto-related services in the state.

The charter allows WisdomTree to operate as a limited-purpose trust company under the New York Banking Law with enhanced regulatory supervision, according to a statement.

It authorizes the company to perform fiduciary custody of digital assets, including digital wallet services, issue and exchange approved stablecoins, and manage stablecoin reserves under the newly formed WisdomTree Digital Trust Company, LLC.

NYDFS’ approval also enables the firm to launch WisdomTree Prime for New York retail customers in the coming weeks — a personal finance app focused on offering …