Galaxy Digital and State Street Bank Launch Tokenized Cash Management Fund SWEEP on the Solana Blockchain

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Golden Finance reports that Galaxy Digital announced the launch of a tokenized cash management fund, “State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP),” in partnership with U.S. bank State Street. The fund migrates cash management and yield products to the blockchain network, enabling 24/7 on-chain liquidity management. The fund is initially built on Solana and plans to expand to Ethereum and Stellar. It is reported that Galaxy is responsible for the tokenization infrastructure, Anchorage Digital provides custody services, and State Street manages the underlying traditional securities assets.

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