State Street and Galaxy Digital tap Ondo Finance for money market fund RWA push
The post State Street and Galaxy Digital tap Ondo Finance for money market fund RWA push appeared on BitcoinEthereumNews.com.
State Street Investment Management, Galaxy Digital, and Ondo Finance have announced a partnership to launch the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized private liquidity fund. According to the official announcement from Ondo Finance, SWEEP is expected to make its debut on Solana early next year. The leading tokenization firm said that OUSG, its flagship tokenized fund, will serve as the lead anchor investor, utilizing the fund to further diversify its reserves and enhance access to 24/7 liquidity for OUSG investors. Ondo Finance launches new product SWEEP is designed as a tokenized money-market instrument that will provide institutions with a way to manage short-duration liquidity on-chain while maintaining exposure to State Street-managed assets. OUSG currently holds a diversified basket of institutional tokenized U.S. Treasury funds, and aggregates 24/7 stablecoin liquidity available across many of them, making the liquidity accessible both to OUSG holders and, through Ondo Nexus, to holders of those third-party funds. “With a planned investment in SWEEP, OUSG’s portfolio would span funds from the world’s most trusted asset managers, including BlackRock’s BUIDL, Fidelity’s FDIT, Franklin Templeton’s BENJI, WisdomTree’s WTGXX, Wellington Management and FundBridge Capital’s ULTRA,” Ondo Finance’s post on X read. “We look forward to continuing our collaboration with State Street, Galaxy, and the growing community of institutions building the next generation of global financial infrastructure.” Ondo President Ian De Bode called the initiative “a major leap forward” as it facilitates the connection of traditional finance to the on-chain economy. State Street executives also shared similar thoughts, with Kim Hochfeld, Global Head of Cash and Digital Assets, describing the partnership as an example of how “TradFi and DeFi players unite to push the next frontier of asset management.” The U.S. SEC stopped investigating Ondo According to reports, the SEC has ended its multi-year investigation into…
