State Street and Galaxy launch tokenized fund to bring cash management onchain
The fund lets institutions earn yield on stablecoins while moving cash onchain with round-the-clock access....
Key takeaways
- 1State Street and Galaxy launched SWEEP, a tokenized cash-management fund allowing institutions to earn yield on stablecoins with 24/7 blockchain access.
- 2SWEEP launches on Solana with plans to expand to Ethereum and Stellar, operating continuously unlike traditional money market funds with market-hour cutoffs.
- 3Access is limited to qualified institutional investors, signaling Wall Street's tokenized finance focus remains on large players, not retail users.
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Why it matters
This reflects growing institutional adoption of blockchain-based financial infrastructure in India's regulatory context, where tokenized securities and onchain cash management could eventually reshape how institutional investors handle liquidity and yield generation as crypto compliance frameworks mature.
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