State Street & Galaxy Launch On-Chain Liquidity Fund
Update: 2025-12-11
Description
State Street Investment Management and Galaxy Asset Management are launching a new tokenized private liquidity fund, SWEEP, on the Solana blockchain. This fund aims to bring cash balances onto public blockchains, creating on-chain liquidity. Ondo Finance will invest $200 million, connecting their tokenized real-world assets to State Streets tokenization system. Galaxy Digital will provide infrastructure, and State Street Bank and Trust Company will act as custodian. The fund will expand to other networks, including Stellar and Ethereum, using Chainlinks Cross-Chain Interoperability Protocol. This initiative adds another major player to the competition for defining on-chain cash for large financial institutions.
DNN | The Daily News Now!
The world’s first global local news network.
Every city. Every story. AI powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
