State Street Investment Management and Galaxy Asset Management presented the tokenized private liquidity fund State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), which will be launched on Solana ($SOL ) at the beginning of 2026. The fund will operate as a digital equivalent of a money market, investing in short-term low-risk instruments, but using blockchain and tokens as proof of ownership.
Galaxy will provide the technical infrastructure, and subscription and redemption operations will be conducted in the PYUSD stablecoin from PayPal, allowing transactions to be processed 24/7. Digital assets will be stored by State Street Bank and Trust.
After launching on Solana ($SOL ), the fund plans to expand to Stellar and Ethereum through integration with Chainlink. The product will be available only to qualified investors, and the initial liquidity of $200 million will be provided by Ondo Finance.
