Wise Adds Two Ways to Invest U.S. Dollar Balances as…
By Rick Steves
AI summary of the source article
Wise has launched two investment options for U.S. personal and business customers, allowing existing USD balances to be invested in a Treasury money market fund or an S&P 500 index fund while remaining spendable.
Why it matters
"For Wise, the launch creates a reason for customers to keep dollars on the platform between transactions. For customers, it changes what those dollars represent."
Key facts
- Wise Interest invests in the BlackRock Liquidity Funds Treasury Trust Fund, while Stocks invests in an S&P 500 index fund.
- The launch represents the first use of broker-dealer Wise US Assets Inc.'s registration to offer investment products.
- Customers can opt in using existing USD balances and continue using those balances to send or spend funds without withdrawal penalties.
Source excerpt · FinanceFeeds
Wise is giving U.S. personal and business customers two ways to invest the dollars they already hold on its platform. In its announcement , the company said Wise Interest will invest in a Treasury money market fund, while Stocks will use an S&P 500 index fund. Customers can opt in from an existing USD balance and continue to use that balance to send or spend money. For Wise, the launch creates a r…