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Plume said on March 31 that it had launched a payroll pilot with Toku under which participating employees can elect to receive part of their compensation in shares of WisdomTree's tokenized money market fund, WTGXX, rather than taking their full pay in cash. In the announcement, the company said it purchases the corresponding fund shares through WisdomTree Connect and delivers them to verified wallets linked to employees' WisdomTree Prime accounts. Toku provides the payroll infrastructure. Participation is voluntary, subject to WisdomTree Prime eligibility and wallet verification, and initially limited to Plume employees.
The asset is a registered fund, not a stablecoin
The distinction matters. WTGXX is not a stablecoin or a generic crypto token. WisdomTree's fund materials describe it as an open-end treasury money market fund registered under the Investment Company Act of 1940 and operating under Rule 2a-7. Access is available to retail users through WisdomTree Prime and to institutions through WisdomTree Connect, according to the fund prospectus filed with the SEC.
Infrastructure already in place
The pilot runs on top of regulatory and market infrastructure that predates this week. WisdomTree said in February that it had received SEC exemptive relief to support 24/7 trading and instant settlement for tokenized shares of its money market fund. Acting SEC Chair Mark Uyeda referenced that relief in public remarks. WisdomTree's digital trust entity is chartered by the New York State Department of Financial Services to engage in virtual currency business, with additional background on WisdomTree's website.
Who this affects
For participating Plume staff, the change is straightforward: a portion of pay goes into WTGXX shares through the employer's payroll process, without a separate post-payday investment step. For employers and payroll providers, the pilot tests whether tokenized fund distribution can plug into existing payroll workflows. For fund sponsors like WisdomTree, it opens a new distribution channel, linking WisdomTree Connect to compensation infrastructure rather than just trading or advisory platforms.
The scope is small for now. This is a single-employer pilot with one fund, not a product available to the broader market.
