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State Street and Galaxy have rolled out SWEEP, a “tokenized private liquidity fund’ SWEEP is designed to migrate traditional cash and liquidity management products onto public blockchains.
State Street and Galaxy launched SWEEP, a tokenized private liquidity fund on Solana using PayPal USD.
KEY POINTS
- SWEEP enables 24/7 cash management, allowing instant fund subscriptions and redemptions via stablecoins.
- SWEEP debuts with a $200 million anchor investment from Ondo Finance, integrating OUSG tokenized Treasury reserves.
- State Street and Anchorage Digital together provide full custody for both traditional securities and tokenized shares.
- SWEEP will expand beyond Solana to Ethereum and Stellar, targeting institutions' preferred blockchains for liquidity.
COMPANIES
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