Goldman's $100 Billion Fund Lands on Avalanche Blockchain

Avalanche's AVAX token retreated by 5.56% on Monday to $10.30, despite the network's continued expansion into institutional finance. This follows a month of accelerating adoption, with major firms like Midas launching tokenized investment strategies linked to Wellington Management and Fasanara Capital.

The news comes as Goldman Sachs made its $100 billion Treasury money-market fund available on the Avalanche blockchain through a private settlement network called Lynq. The arrangement allows trading firms to earn interest on idle capital between transactions without moving funds far from their settlement infrastructure.

Lynq's chief executive, Jerald David, said the platform was designed to cater to institutions that are not comfortable with self-custody or open networks. 'We know that there are users that are out there that are not comfortable yet with self-custody,' he told CoinDesk in an interview.