WisdomTree Partners with Stride Bank and Galileo for Payments

On October 19, 2022, WisdomTree announced partnerships with Stride Bank and Galileo to power its payments capabilities. Stride Bank, a fintech-friendly sponsor bank based in Oklahoma, will provide the banking infrastructure and regulatory framework for WisdomTree's payment services. Galileo, SoFi Technologies' payment processing subsidiary, will deliver the underlying payments technology stack.

The partnership marks WisdomTree's strategic expansion from its core asset management business into embedded financial services, leveraging established BaaS infrastructure providers. Stride Bank has become a prominent sponsor bank in the fintech ecosystem, supporting numerous digital finance platforms with banking services. By combining Stride Bank's banking charter with Galileo's proven payment processing platform, WisdomTree gains the infrastructure needed to offer payment functionality alongside its investment products.

The deal reflects the growing trend of financial services firms outside traditional banking seeking BaaS partnerships to deliver integrated financial experiences.