State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

"The companies said the fund is designed for institutions that want to hold cash-like assets onchain without giving up the liquidity profile they expect from traditional sweep products."

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More coverage

• State Street, Galaxy to launch tokenized liquidity fund - Ledger Insights (ledgerinsights.com)
• State Street Investment Management and Galaxy Digital Bring Cash ... (investors.statestreet.com)
• State Street, Galaxy Digital Bring Cash Management Onchain (marketsmedia.com)
• State Street Investment Management, Galaxy Digital, and Ondo ... (ondo.finance)
• SWEEP | State Street Galaxy Onchain Liquidity Sweep Fund (am.galaxy.com)

Explore the topic

• Galaxy Digital
• Solana
• Seed Round
• Ondo Finance