State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026 that will use stablecoins to enable 24/7 investor liquidity, thereby expanding the use of public blockchains in institutional cash management. The fund, named the "State Street Galaxy Onchain Liquidity Sweep Fund" (SWEEP), will accept subscriptions and redemptions in PayPal's stablecoin PYUSD, provided the fund has available assets to process related requests. Only qualified buyers meeting predetermined thresholds will be able to invest. Ondo Finance has committed approximately $200 million as seed funding for the product. The two companies expect the SWEEP fund to launch on the Solana blockchain initially, followed by Stellar and Ethereum blockchains. Galaxy Asset Management plans to leverage Chainlink's tools to facilitate cross-chain data and asset transfers.
State Street Bank and Galaxy will launch a tokenized liquidity fund on the Solana blockchain next year.
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State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026 that will use stablecoins to enable 24/7 investor liquidity, thereby expanding the use of public blockchains in institutional cash management.