State Street Investment Management and Galaxy Asset Management launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP). This tokenized private liquidity fund provides 24/7 onchain cash management for institutional clients using stablecoins.
The fund initially operates on the Solana blockchain. State Street plans future expansions to the Ethereum and Stellar networks. Galaxy provides the digital infrastructure for tokenization and fund token management.
The initiative bridges traditional finance with decentralized finance infrastructure. This development signals growing institutional confidence in Solana for hosting regulated financial instruments.