Blockchain
State Street and Galaxy To Launch Tokenized Sweep Fund On Solana In 2026
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State Street Investment Management and Galaxy Asset Management are joining forces with Ondo Finance on a tokenized liquidity fund that will push cash “sweep” balances directly onto public blockchains, creating a potential source of 24/7 onchain liquidity.
The planned State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP, is designed to take in and pay out PayPal’s (PYUSD) stablecoin for accredited investors, the companies said on Tuesday.
Ondo is expected to seed the fund with $200 million, tying a major tokenized real-world asset (RWA)…
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